Spectator on facebook

Spectator on facebook

Labour costs grow 7.1 percent

Total hourly labour costs in Slovakia rose at an annual rate of 7.1 percent in the third quarter of 2007. According to figures released by Eurostat, the Statistical Office of the European Communities, the most significant labour cost growth in Slovakia was posted in the construction sector, where labour costs went up 9 percent, industry 8.1 percent, and services 5.8 percent. The Eurostat figures further show that indirect costs, which include employers' contributions to social and health-insurance funds and employees' personal income tax, grew as much as 7 percent, while direct wage costs on net wages rose 7.2 percent.

Total hourly labour costs in Slovakia rose at an annual rate of 7.1 percent in the third quarter of 2007. According to figures released by Eurostat, the Statistical Office of the European Communities, the most significant labour cost growth in Slovakia was posted in the construction sector, where labour costs went up 9 percent, industry 8.1 percent, and services 5.8 percent. The Eurostat figures further show that indirect costs, which include employers' contributions to social and health-insurance funds and employees' personal income tax, grew as much as 7 percent, while direct wage costs on net wages rose 7.2 percent.

The average y/y growth of hourly labour costs in the 27-member European Union (EU) reached 3.7 percent in Q3 of this year, with industry showing a growth of 3.4 percent, in the construction sector 5.3 percent, and services 3.6 percent. In the thirteen-member Euro-zone hourly labour costs rose 2.5 percent on average, particularly 2.5 percent in industry, 3 percent in construction sector and 2.4 percent in services. Total labour costs comprise employees' wage, including benefits and employers' indirect costs, such as compulsory transfers to social and health insurance funds. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak