Romania’s average net wage rose 15.5 pct y/y in March to hit all-time high EUR 580

Romania’s average net monthly earnings growth rate accelerated to 15.5 percent year-on-year in March, from 11.2 percent in February,  due mainly to granting of Easter bonuses, National Institute of Statistics (INS) data showed on Wednesday.

The average net monthly earnings rose by 8.7 percent month-to-month, from RON 2,487 (EUR 534) in February to RON 2,704 (EUR 580) – a record high – in March.

Real wages increased by only 10.1 percent between March 2017 and FMarch 2018, due to high inflation rate (5 percent in March, year-on-year).

In December, Romania posted the previous record average net monthly earnings of RON 2,629 (EUR 567), due to granting of year-end bonuses.

The gross average monthly earnings increased to record high RON 4,488 (EUR 963) in March, up from RON 4,128 (EUR 887) in February.

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Since the beginning of this year, the social security contribution and the social health insurance contribution paid by the employer were transferred to the employee in Romania, and the effect was a sudden surge of the gross wages in January, from RON 3,662 (EUR 790) in December.

The highest net monthly earnings were recorded in March in IT sector (RON 6,689, EUR 1,435),  in manufacture of tobacco products (RON 6,312, EUR 1,354) and insurance, reinsurance and pension funds (RON 6,070, EUR 1,302), and the lowest in accommodation and food service activities (RON 1,541, EUR 331).

Romania has the second lowest average wage among the European Union member states, after Bulgaria.