• In quarter III 2023 compared to the quarter II 2023 1 , the adjusted hourly labour cost (working days adjusted) registered an increase rate of 1.31%. • In quarter III 2023 compared to the quarter III 2022, the adjusted hourly labour cost (working days adjusted) registered an increase rate of 15.15%. Quarter III 2023 compared to Quarter II 2023 As against the Quarter II 2022, the most significant increase of the hourly labour cost (working days adjusted) was found in education2 (38.42%).Also, slight increases of the hourly labour cost (working days adjusted) were registered in other service activities (1.36%), arts, entertainment and recreation (1.15%), respectively in public administration (0.89%). However, in the majority of economic activities, the hourly labour cost (working days adjusted) decreased compared to the previous quarter. The most significant decreases were found in financial and insurance activities (-10.20%), real estate activities (-5.56%), respectively in administrative and support service activities (-4.06%). As against the previous quarter, the direct costs3 component (wages and salaries) increased by 1.31% and the other costs3 component (nonwages costs) by 1.34%. Quarter III 2023 compared to Quarter III 2022 As compared to the same quarter of the previous year, the hourly labour cost (working days adjusted) increased in all economic activities. The most significant increases of the hourly labour cost (working days adjusted) were found in education (30.46%), construction (22.07%), respectively in administrative and support service activities (19.05%). In quarter III 2023 compared to quarter III 2022, the lowest increases of the hourly labour cost (working days adjusted) were noticed in mining and quarrying (6.33%), other service activities (7.31%), respectively in human health and social work activities (7.94%). As against the same quarter of the previous year, the direct costs component3 (wages and salaries) increased in quarter III 2023 by 15.16% and the other costs component3 (non-wages costs) by 14.88%.
OMV Petrom, the largest integrated energy company in Southeastern Europe, announced Thursday, July 3, the discovery of a new natural gas reservoir in Spineni, a locality situated about 70 kilometers northeast of Craiova, southwestern Romania. The find was confirmed following the drilling of the 1 Spineni exploration well to a depth of approximately...
Romanian president Nicușor Dan, along with prime minister Ilie Bolojan and other officials, participated at a reception on Wednesday, July 2, to mark the US Independence Day. During the reception, they underlined the importance of the relationship between Romania and the US. The Romanian president noted that the United States is Romania's most important ally […]
Romanians spent roughly EUR 40 billion in large retail chains last year, representing an increase of 7.1% year-over-year. The 2024 growth rate marked a slowdown compared to 2023 (+11.1% vs. 2022) but remained above inflation, according to the Romania Retail Snapshot 2025 produced by real estate consultancy company Cushman & Wakefield Echinox. Major food stores […]
The Romanian government will implement tax hikes and spending reforms starting August 1 in an attempt to curb the growing budget deficit and avoid a looming financial crisis, prime minister Ilie Bolojan announced. The measures include increases in VAT and excise duties, a new health contribution on pensions, and a doubling of the tax on […]
Bucharest gears up for the first edition of Neversea Kapital, chamber music festival SoNoRo Musikland tours cities and villages in Transylvania, and outdoor enthusiasts can reconnect...
SoNoRo Musikland, the chamber music festival celebrating the architectural heritage of Transylvania, has scheduled this year concerts in Sibiu and Copșa Mare, in addition to Cincu, Saschiz, Meșendorf, Criț, Viscri, Codlea, Făgăraș, and Brașov. This year's program spans 16 days and 23 events, comprising 16 concerts, two jam sessions, and five concerts for children held […]
