Labour costs in Slovenia dropped by 5.9% in Q2 of 2013

Labour costs in Slovenia dropped by 5.9% in Q2 of 2013

 

Review by Christos T. Panagopoulos

Slovenia saw the biggest drop in labour costs per hour in the entire EU in the second quarter of 2013, which makes it two quarters in a row. In Slovenia the drop was 5.9% compared to the same period in 2012, while labour costs per hour were up by 0.9% on average both in the eurozone and in the EU

Both wages and other costs, including various social contributions paid by employers, were down by 5.9% in Slovenia, according to Eurostat data released on Monday. In the eurozone, costs of wages per hour were up by 1.1%, while the other costs increased by 0.1%. In the entire EU, these figures stood at 1% and 0.3%, respectively.

Slovenia, which recorded the biggest drop, was followed by Cyprus (-4.6%), Croatia (-0.6%) and Spain (-0.3%). The biggest increase was meanwhile recorded in Estonia (+7.7%), Lithuania (+6.5%) and Romania (+6%).

Source: Slovenia Times