Flash estimate - In October 2022, the overnight stays in tourism accommodation in the Autonomous Region of Madeira grew by 24.4% year-on-year (Read more...)
DREM releases data on foreign affiliates in the Autonomous Region of Madeira (Read more...)
In October 2022, the median value of bank appraisals on housing in the Autonomous Region of Madeira stood at 1,431 euros/square meter (Read more...)
In October 2022, the movement of passengers at the airports of the Autonomous Region of Madeira stood 40% above the same month of 2019 (Read more...)
DREM releases the third quarter transport statistics and a time series for the period 1976-2021 (Read more...)
DREM releases final results of the 2021 Census (Read more...)
In October 2022, the implicit interest rate on housing credit and the average loan repayments increased in the Autonomous Region of Madeira (Read more...)
In the 3rd quarter of 2022, the overdue loans ratios decreased compared to the previous quarter (Read more...)
In 2022, the proportion of persons between 16 and 74 years old who reported having used the Internet in the last 3 months prior to the interview was higher in the Autonomous Region of Madeira than in the country (Read more...)
In the first nine months of 2022, the natural decrease was higher than in the same period of the previous year (Read more...)
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Labour Cost Index increased by 10.8% over the previous year
The Labour Cost Index (working days adjusted) increased by 7.1% in the 4th quarter of 2020, compared with the same period of 2019.
The two main labour cost items are “wage costs” (per hour actually worked) and “other costs” (non-wage costs but per hour actually worked).
The first includes:
The other costs includes:
“Wage costs” increased by 7.1% and the “other costs” by 7.3% from the year-ago quarter, respectively.
At the country level, the index increased by 6.6% year-on year. “Wage costs” went up by 6.5% and the “other costs” by 7.0%.
The annual data show that in 2020, the regional Labour Cost Index (LCI) increased by 10.8% when compared to 2019. This increase was determined by the positive rate of change in “wage costs” (+11.8%) and in “other costs” (+6.8%). In Portugal the LCI increased by 8.6% in 2020. Its components (“wage costs” and “other costs”) also grew by 9.2% and 6.1%, respectively.
This growth of the LCI in 2020 can be explained by the reduction of working hours, which is in itself a consequence of the restrictive measures taken to control the COVID-19 pandemic.