Lithuanian labour costs grow

DELFI / Kiril Čachovskij

Over the first quarter of this year, labour costs grew by 6.1% compared to the same period last year.

Statistics Lithuania reported that labour costs for business companies grew by 7% during the same period.

The greatest labour cost growth was in real estate (11.4%), hospitality and catering services (10.2%) and information and communication (9.7%). The slowest growth was in public management and defence (1%), construction (1.2%) and education (3%).

The growing cost per work hour, corrected for the number of work days, was caused by a larger minimum wage, larger severance pay and other factors, said statisticians.

Through January and March of this year, the greatest cost per hour of work was in the financial and insurance industry (at €13.30) and the lowest was in the hospitality and catering industry (at €4.30).

When calculating labour costs, Statistics Lithuania includes wages, benefits, social payments, professional training and qualification expenses, etc.

Verslo Žinios

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