High growth of wage costs in construction and extracting sectors

Albanian businesses increased their spending on the wage fund in the second quarter of the year, witnessing the continuation of the positive performance of the labor market.

According to the Institute of Statistics, businesses increased the wage fund in most of the economic sectors.

The growth of the wage fund is generally higher than the increase in the number of employees, which means an increase in average wage in most branches of the economy.

The most positive performance in the sense of raising the wage fund was reported by the extractive industry and construction.

In the construction sector, the wage fund index expanded by 12.2%, with indicators showing a positive performance of the sector during the second quarter of the year.

Thanks to the increase in public spending before the elections, construction recorded increases in sales, employment and wages.

Even the extractive industry is at a rejuvenation stage, accompanied by the highest levels of raw material prices.

The wage fund index in the extractive industry increased by 12.1%.

On average, the industry sector’s wage fund grew by 2.3%, since energy and water supply activities recorded high growth as well as extractive industries.

The only branch that had the adverse effect was what has the main weight in employment and payroll, the processing industry.

The payroll index grew at similar rates in services, by 2% more than the same period a year earlier.

The best performance was seen in tourism-related activities.

At the hotel sector, the wage fund grew by 11.5%, while for travel agencies the growth was 13.7%.

SCAN

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