The hourly labour cost has risen by 3.4% in the EU and 2.9% in the euro area, in Q3 2022, as compared to the similar period of 2021, show the data published on Monday by the European Office for Statistics (Eurostat).Between July and September 2022, as compared to the Q3 2021, the most significant annual advance was reported in Hungary (16.6%) and Bulgaria (16.3%) while other four EU member states reported growth of over 10%: Lithuania (13.9%), Poland (13.3%), Greece (11.6%) and Romania (10.9%). Hourly labor costs include wage costs and non-wage costs, such as social contributions paid by employers. In Romania, wage costs recorded an annual increase of 1.9% between July and September 2022, and non-wage costs an annual advance of 10.9%. In the European Union, wage costs recorded an annual increase of 2.8% in the third quarter of 2022 and non-wage costs an annual advance of 5.3%. In Q2 2022, the advance of labour costs in Romania is due to the increase by 13.5% of the hourly labour cost in the domain of business, while in the non-business domain there was an advance of 4.6%. As for the sectors in the economy, in Romania the hourly labour cost increased by 13.8% in services, by 13.5% in industry and by 11.5% in constructions.
Far-right populist Călin Georgescu cannot run in Romania's May presidential elections after the Constitutional Court (CCR) rejected on Tuesday, March 11, all challenges against the Central Electoral Bureau's (BEC) decision to invalidate his candidacy. The top court's ruling is final and binding. "I want to tell you...
Romania is represented at two of the most important European book fairs this week, in London and Brussels, providing the Romanian literary scene with access to a wider audience. Both fairs reunite tens of thousands of visitors in events, lectures, and launches. Romania at the London Book Fair The Romanian Cultural Institute (ICR) is organizing […]
The Romanian Air Force will soon be able to carry out air defense missions for national and allied airspace with three F-16-equipped squadrons stationed across three air bases, defense minister Angel Tîlvăr said. He made the statement at a ceremony at Câmpia Turzii, marking the completion of the F-16 Fighting Falcon aircraft acquisition for the […]
Pro-Russian candidate Călin Georgescu, who is now seeking the support of the Trump administration to run for president of Romania, said Donald Trump "is not what he used to be" and called vice-president JD Vance “a virus” in a podcast from July 2024, Digi24 reported. Georgescu, who was virtually unknown...
The sixth edition of Urban Blues Fest will take place at The Pub Trocadero in Bucharest next month, from April 4 to April 6. This year’s festival promises three nights of blues performances that celebrate both tradition and modernity. The festival kicks off on April 4 with Sentimental Journey, featuring Robert Cristian Zsugya, aka Southernman […]
Graffiti Plus (GRF+), one of Romania’s leading communication consultancy agencies for brands and businesses, announced its intention to debut on the Bucharest Stock Exchange in 2025, a first for a local company in this sector. The company is one of the most awarded agencies in the region. In 2024, it had the highest number of […]
