Hourly labour costs grow by 52 cents, reaching EUR 7.09
Data of the Central Statistical Bureau show that, compared to the 2nd quarter of 2014 hourly labour costs in the 2nd quarter of 2015 grew by 52 cents per hour or by 7.9%, reaching EUR 7.09. According to seasonally adjusted data1 labour costs grew by 7.7%.
Changes in hourly labour costs over the corresponding quarter
of the previous year, %
Data source: Central Statistical Bureau of Latvia
The most notable increase in hourly labour costs was recorded in real estate activities - of 11.2%, in information and communication sector - of 10.9%, in trade - of 10.1%, in arts, entertainment and recreation - of 9.8%, as well as in manufacturing - of 9.2%. Rise in labour costs in these sectors was affected by growth in both wages and salaries, as well as in irregular premiums and bonuses. In manufacturing and real estate activities growth in hourly labour costs was also promoted by decrease in the number of hour worked - of 3.8% and 2.5%, respectively.
The smallest growth in the hourly labour costs was recorded in water supply, sewerage, waste management and remediation activities - 4.0%, in transport and storage sector - 4.1%, as well as in energy and mining - 4.2%.
In the 2nd quarter of 2015 the highest hourly labour costs were registered in financial and insurance activities (EUR 15.74), in information and communication sector (EUR 11.21), in energy (EUR 10.45), and in public administration (EUR 9.13). In turn, the lowest hourly labour costs were recorded in accommodation and food service activities (EUR 4.72) and in other service activities (EUR 5.30), in arts, entertainment and recreation (EUR 6.07), in trade (EUR 6.16), in administrative and support service activities (EUR 6.18), as well as in education (EUR 6.22).
Changes in hourly labour costs and wages
in the 2nd quarter of 2015 by economic activity
(seasonally non-adjusted data, EUR)
Hourly labour costs
of which hourly wages and salaries
Mining and quarrying (B)
Electricity, gas, steam and air conditioning supply (D)
Water supply; sewerage, waste management and remediation activities (E)
Wholesale and retail trade;
repair of motor vehicles and motorcycles (G)
Transportation and storage (H)
Accommodation and food service activities (I)
Information and communication (J)
Financial and insurance activities (K)
Real estate activities (L)
Professional, scientific and technical activities (M)
Administrative and support service activities (N)
Public administration and defence, compulsory social security (O)
Health and social work (Q)
Arts, entertainment and recreation (R)
Other service activities (S)
1 Differences in the number of calendar days and seasonal influence have been averted.
Wages Statistics Section
Tel. +371 67366628
Hourly labour costs include gross wages and salaries and other labour costs.
Wages and salaries are regular and irregular direct wages and salaries – basic salary (monthly, wage), payment for time worked or job completed, regular and irregular premiums and bonuses, payments for days not worked (vacation and other days not worked), state mandatory social insurance contributions paid by the employees and personal tax. In line with the European Union (EU) regulatory enactments, when compiling data on labour costs, wages and salaries also include remuneration in kind (goods and services provided by the employer to employees free of charge or at a lower price, living quarters, mobile telephone, transport compensation etc.). Other labour costs include statutory social security contributions payable by the employer, employers’ contractual and voluntary social security contributions (additional pension insurance contributions, health and life insurance contributions etc.), support payments from the employer, awards, gifts, payments for sick list A, severance pay, entrepreneurship state risk duty.
Hourly labour costs are calculated dividing the sum of labour costs by the number of hours worked.
According to the EU regulatory enactments, hourly labour costs and changes thereof in this publication have been calculated for sectors B-S of the Statistical Classification of the Economic Activities (NACE) Rev. 2.
Indicator changes have been calculated from not rounded values.
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