RTTNews - Monday, Latvia's Central Statistical Bureau announced that the total labor costs declined a seasonally adjusted 10.4% year-over-year in the first quarter. Sequentially, labor costs were down 17.5%.
The total labor costs stood at LVL 1.36 billion in the first quarter, down from LVL 1.65 billion in the previous quarter. A year earlier, retail sales totaled LVL 1.52 billion.
Meanwhile, the hourly labor costs increased 0.2% sequentially in the first quarter, but it dropped 8% compared to the previous year.
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