Third-quarter hourly labor cost up 5.68 pct YoY

The hourly cost of labor was 5.68 percent higher in Q3 2020 than in the same quarter of the year before in workday-adjusted terms, and 1.36 percent more compared to the previous quarter, shows data released on Friday by the National Institute of Statistics (INS). The most significant quarterly increase in the workday-adjusted hourly cost of labor was in education (18.82 pct), due to the school holiday that cut down the actual time worked. Other sectors to see a considerable increase in the hourly cost of labor cost (workday adjusted) were the hotels and restaurants industry (5.86 pct), public administration (3.52 pct), and the manufacturing industry (2.48 pct). The steepest decreases in the hourly cost of labor (workday adjusted) were in financial intermediation and insurance (-6.53 pct), entertainment, cultural and recreational activities (-4.62 pct), the mining industry (-3.16 pct), administrative and support services (-3.08 pct). AGERPRES (RO - author: George Banciulea, editor: Andreea Marinescu; EN - author: Simona Klodnischi, editor: Simona Iacob)