14-02-2017 - In the last quarter of 2016, the Labour Cost Index decreased by 1.1% from the corresponding quarter

In the last quarter of 2016

Labour Cost Index decreased by 1.1% from the corresponding quarter

The Labour Cost Index (working days adjusted) decreased by 1.1% in the 4^th quarter of 2016, compared with the same period of 2015.

The two main labour cost items are “wage costs” (per hour actually worked) and “other costs” (non-wage costs but per hour actually worked). “Wage costs” increased by 0.6% from the year-ago quarter and the “other costs” declined by 7.5%.

At the country level, the index decreased by 0.8% year-on year. “Wage costs” went down by 0.3% and the “other costs” by 2.6%.

The annual data show that in 2016, the regional Labour Cost Index (LCI) increased by 0.1% when compared to 2015. This increase was determined by the positive rate of change in “wage costs” (0.9%), since the “other costs” fell by 3.7%). In Portugal the LCI decreased by 0.1% in 2016, the result of a 1.5% decrease in the “other costs” and the increase of 0.2% in “wage costs”.

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