site.btaTotal Hourly Labour Cost in Bulgaria Up by 12.8% in Q4 of 2024 Y/Y, NSI Data

In the fourth quarter of 2024, compared to the fourth quarter of 2023, the total hourly labour cost rose by 12.8% (according to preliminary data), the National Statistical Institute said on Friday. The total hourly labour cost increased by 11.5% in Industry, by 13.1% in Services and by 17.3% in Construction. The highest annual growth in total labour costs was recorded in the following sectors: Real estate activities, and Other service activities - by 23.5%, and Arts, entertainment and recreation - by 22.1%.

In the structure of the total labour costs, the wages and salaries costs per hour worked grew by 13.0% in comparison with a year earlier, while the other (non-wage) costs rose by 11.7%. 

Among the economic activities in the fourth quarter of 2024, compared to Q4 of 2023, the growth rate of wages and salaries component ranged from 24.4% in Other service activities to 3.9% in Electricity, gas, steam and air conditioning supply.

In the fourth quarter of 2023 compared to Q4 of 2022, employers' spending per hour worked increased by 11.7%, with an increase of 10.6% in Industry, 10.4% in Services, and 19.5% in Construction. Then the highest growth in total labour costs was in General government, up 19.8%, Construction, up 19.5%, and Education, up 17% cent.

Compensation costs per hour worked increased by 13% in Q4 of 2024, while other costs (excluding compensation) increased by 11.7%. By economic sector, the year-on-year change in compensation costs ranges from 24.4% for Other activities, to 3.9% for Electricity, heat and gas fuels production and distribution. 

In the same period of 2023, wage costs per hour worked increased by 11.9% and other costs by 10.2%, with the change in costs by economic sector ranging from 20.6% for Construction, to minus 2.7% for Mining and quarrying.