• 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%.
London’s New Bond Street has been crowned the world’s priciest retail destination for the first time, while Bucharest’s Calea Victoriei is in 39th place globally, according to Cushman & Wakefield’s latest Main Streets Across the World report. Rents in Calea Victoriei recorded the 3rd highest growth among the 50 analysed markets worldwide. Calea Victoriei, the […]
The Defense Ministry said early Wednesday, November 19, that its Air Force detected a drone entering national airspace overnight, prompting the scramble of German and Romanian fighter jets amid ongoing Russian attacks near Romania’s border with Ukraine. Two German Eurofighter Typhoon jets stationed at the Mihail Kogălniceanu Air Base took off at 00:25 on November […]
The government will radically amend the legislation on foreign labour and repeal the current law, said Ciprian Văcaru, state secretary at the Ministry of Labour, Family, Youth and Social Solidarity (MMFTSS), as reported by Economedia.ro...
The Romanian government is preparing an emergency ordinance to ban salary-pension cumulation in the public sector, according to the document consulted by Economedia.ro. The draft ordinance includes other measures to reduce spending in public administration, such as suspending secondments and transfers. The...
Although the Romanian ruling coalition announced a principle agreement over cutting by 10% the payroll of the central administration, no formal agreement has been drafted yet, and the technical specifications are not yet clear. In any case, it seems broadly agreed that the ministries and other central administrative units will be given flexibility in deciding […]
Romania’s BlueSpace Technology is preparing for the first public presentation of its VLAH (Hydramatic Autonomous Combat Vehicle) prototype, scheduled for the first half of December, according to a press release cited by Bursa.ro. The 4x4 armoured vehicle is the first...
