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Hungary: Labor costs rise faster than in EU27, but slower than neighbors

Labor costs in Hungary rose 7.6% in the Q2 from the same period a year earlier, well over the 3.4% increase for the EU27, but under the rise in many neighboring countries, fresh figures published by Eurostat show.

Wage costs in the Czech Republic and Slovakia both grew 7.7% during the period, a hair over Hungary’s rate. But rates in Poland (10.0%) and Romania (23.0%) well exceeded Hungary’s wage growth, as did the increases in Bulgaria and in the three Baltic countries.

Wages in Hungary grew 10.1% and non-wage growth was 7.5%. In the EU27, wages climbed 3.6% and non-wage growth was 2.6%. (MTI-Econews)