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Average hourly labour costs in the EU in 2015 varied considerably — from €4.1 in Bulgaria to €41.3 in Denmark.
The average hourly labour cost in the EU in 2015 was €25, and €29.5 in the euro area, according to the European statistical office Eurostat.
The countries with the lowest labour costs alongside Bulgaria are Romania (€5), Lithuania (€6.8), Latvia (7.1 million) and Hungary (€7.5).
The highest labour costs after Denmark are in Belgium (€39.1), Sweden (€37.4), Luxembourg (€36.2) and France (€35.1).
In industry, hourly labour costs reached €25.9 in the EU and €32.3 in the euro area; in services the figures were €24.9 and €28.6 respectively, and in construction €22.4 and €25.8.
The two main components of labour costs are wages and other non-wage costs, including benefits, sick pay and insurance.
Hourly labour costs in the EU, expressed in EUR (excluding agriculture and public administration), increased by 2% compared with the previous year, while in the euro area the increase was 1.5%.
In Bulgaria, the index increased by 6.8% when calculated in euros and by 7 per cent in lev.
Bulgaria once again confirms its position as the European country with the lowest labour costs. This confirms one of its strengths for investors and a point of interest for companies seeking international expansion into Bulgaria.