EU Trims Romania 2008 Wage Growth To 10.4% From 12.2%

The European Commission on Monday estimated average wages in Romania will see a 10.4% growth in 2008, down from a previous forecast of 12.2%, the commission said in its spring report.

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For 2009, the commission expects a more pronounced acceleration of wage growth in Romania, of 11.3%.

Labor productivity growth is forecast at 5.2% in 2008 and is expected to decelerate to 4.2% in 2009.

The commission projected a slight decline in the unemployment rate in Romania for 2008, at 6.1% from 6.4% in 2007. For 2009, unemployment is set to reach 5.9%.

Romania’s prognosis commission estimated average net wage will grow by 15.2% to RON1,202 in 2008.

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