Net average wage in Romania advances an annual 25.8% in July to 1,308 lei, above labor productivityPublish date: 05-09-2008
The net average salary in Romania rose an annual 25.8 percent in July to 1,308 (365 euros), above the level in the past months, spurred by the rapid growth of incomes in industry and services, the country's statistics body INS showed.
In June the growth pace was slower, of 24.4 percent year-on-year. The wage added 35 lei in July.
The gross average salary stood at 1,769 lei, rising 1.8 percent month-on-month. Consequently, salaries in industry rose 9.3 percent in the first semester of the year, above labor productivity. The central lender has numerous times warned over the danger stemming from the advance of salaries over labor productivity which leads to deficits in economy and puts pressure on inflation.
In real terms, taking into account the inflation rate, the net average salary nudged up 15.4 percent in July over the similar month last year. Also, over October 1990, the salary added 24.8 percent in power of purchase in July.
People working in financial were paid the highest wages in the seventh month this year - 3,214 lei while those working in the wood processing industry, except furniture, earned 732 lei. Yet, versus June, the net average salary rose in most economic fields, INS showed.
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