BUCHAREST (Romania), December 4 (SeeNews) – Romania's hourly labour costs rose by 5.68% year-on-year in the third quarter of 2020 and were 1.36% higher over the second quarter, the statistical board, INS, announced on Friday.
On an annual comparison basis, the hourly labour costs increased in most sectors of economic activity in the third quarter of 2020.
The highest increases of the working days adjusted hourly labour cost ere found in financial and insurance activities - 10.47%, electricity, gas, steam and air conditioning supply - 10.46%, respectively in information and communication - 10.17%.
Hourly labour cost in accommodation and food service activities dropped by an adjusted annual 12.54% in the third quarter. According to INS, the economic units were strongly affected by the suspending/ceasing of their related activities, by decreasing of the hours actually worked in the context of the COVID-19 pandemic, but also by reducing their direct costs, caused by technical unemployment or lower receipts during the state of alert.
As against the previous quarter, the most significant increase of the adjusted hourly labour cost was found in education - 18.82%, due to school holiday and, consequently, due to the reduction of the working time.
Increases of the adjusted hourly labour cost were also registered in accommodation and food service activities - by 5.86%, public administration - 3.52% and manufacturing - 2.48%.
The most important decreases of the adjusted hourly labour cost compared to the second quarter were found in financial and insurance activities by 6.53%), arts, entertainment and recreation - by 4.62%, mining and quarrying - by 3.16%, respectively administrative and support service activities - by 3.08%,