site.btaHourly Labour Costs Increase by 16.1% in Fourth Quarter of 2022 Y/Y

Hourly labour costs in Bulgaria increased by 16.1% in the fourth quarter of 2022 compared with the fourth quarter of 2021, the National Statistical Institute reported on Wednesday, unveiling early estimates. Hourly labour costs in industry grew by 21.3%, in services 17.8%, and in construction 11.0%.

A breakdown by economic activity shows that the highest year-on-year increase in hourly labour costs in the fourth quarter of 2022 occurred in electricity, heat and gaseous fuel production and distribution, up by 33.3%, followed by hotels and restaurants, 32.9%, and culture, sports and entertainment, 25.2%.

Hourly wage costs, as a component of hourly labour costs, grew by 16.5% in the fourth quarter of 2022 compared with the fourth quarter of 2021, and non-wage labour costs went up by 13.8%. Hourly wage costs increased most significantly in the hotel and restaurant business, by 34.3%, and least so in human health care and social services, by 1.0%.