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Cost of labour growing in Slovakia

THE PACE of the increasing average cost per labourer per hour in Slovakia is now the fourth fastest in Europe, after Latvia, Estonia, and Lithuania.

In the first quarter of 2006, the cost of employing Slovaks raised by 7.5 percent to around €5 per hour, the daily Hospodárske noviny wrote.

"The price of labour in Slovakia is among the lowest in EU, where the average stands at €24. It would be sad if 6-percent economic growth did not cause labour costs to grow," economist Pavol Kárász said.

Even if Slovakia is gradually approaching to the European average, foreign investors are not planning to leave the country, Kárász believes.

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