Bulgaria’s Q3 Labour Costs Rise 7.2% Y/Y

Bulgaria’s Q3 Labour Costs Rise 7.2% Y/Y

Bulgarian employers' labour costs in the third quarter of 2011 were 7.2% higher on the year, compared to a 10.2% annual increase in the previous three-month period, data from the National Statistical Institute showed on Tuesday.

Labour costs, which cover salaries, mandatory social security and healthcare contributions, as well as other payroll taxes, rose by 12.2% in the services and by 7.2% in the industrial sector.

Costs grew most sharply in telecommunications - by an annual 21.2%, followed by the research and development sector with a 19.7% rise. On the opposite end of the table, labour costs increased by only 0.6% in the administration and dropped by 8.5% in the real estate sector.

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