Monday, Apr 15, 2019. 09:04

Hungary has fourth lowest labor costs in EU

Eurostat

Hourly labor costs in Hungary in 2018 were the fourth lowest among EU member states after Bulgaria, Romania and Lithuania, according to a fresh study published by Eurostat, the statistical agency of the European Union.

Chart: Eurostat

Hourly labor costs came to EUR 9.2 in Hungary in 2018, compared to an average of EUR 27.4 in the European Union. Hourly labor costs amounted to EUR 5.4 in Bulgaria, EUR 6.9 in Romania, and EUR 9.0 in Lithuania.

The highest hourly labor costs were recorded in Denmark at EUR 43.5, Luxembourg at EUR 40.6, and Belgium at HUF 39.7.

Labor costs increased by 6.4% from a year earlier in euro terms in Hungary, compared to the EU average of 2.7%.

Within the euro area, the highest increases were recorded in Latvia (12.9%) and Lithuania (10.4%). Outside the euro area, the largest increases in hourly labor costs in national currency terms were observed in Romania (13.3%) and Hungary (9.8%) last year.

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