In the second quarter of 2017
Labour Cost Index decreased by 1.2% year-on-year
The Labour Cost Index (working days adjusted) decreased by 1.2% in the 2nd quarter of 2017, compared with the same period of 2016. In the previous quarter this Index had increased by 5.6% year-on-year.
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” decreased by 1.3% while the “other costs” fell by 0.5% from the year-ago quarter.
At the country level, the index increased by 1.5% year-on year. “Wage costs” went up by 1.6% while the “other costs” rose by 1.1%.
