Hourly labor cost index up 19.5% year-on-year

Both direct and indirect salary expenditures are used to calculate the hourly labor cost.

Compared to Q4 2007, a significant decline in the labor cost index was registered in the extraction industry (14.87 percent), electricity and thermal energy (5.39 percent), and hotels and restaurants (3.38 percent).

The index in other fields rose, with the labor cost per hour 16.18 percent higher in the education sector, that in trade activities up 5.52 percent, and a 4.17 percent rise in real estate deals. (NewsIn)