Eurostat: wages, labour costs in Czech Rep on rise

The EU Statistics Office, Eurostat, has revealed that the Czech Republic is losing some advantage it enjoyed in terms of luring foreign investors: namely affordable labour costs. According to Eurostat, labour costs in the country are currently increasing at one of the fastest rates in the European Union; wages and other labour costs in the Czech Republic rose by more than ten percent in the second quarter of 2006 and more rapid growth was observed only in the Baltic states. Wages in the Czech Republic, says Eurostat, have been growing equally in almost all sectors, benefiting employees in industry, as well as in construction and the service sector.