In the last quarter of 2017
Labour Cost Index decreased by 0.8% year-on-year
The Labour Cost Index (working days adjusted) decreased by 0.8% in the 4th quarter of 2017, compared with the same period of 2016. In the previous quarter this Index had decreased by 1.1% 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 0.8% while the “other costs” fell by 0.7% from the year-ago quarter.
At the country level, the index increased by 0.6% year-on year. “Wage costs” went up by 0.8% while the “other costs” down by 0.1%.
The annual data show that in 2017, the regional Labour Cost Index (LCI) increased by 0.6% when compared to 2016. This increase was determined by the positive rate of change in “wage costs” (0.5%) and the “other costs” (1.1%). In Portugal the LCI increased by 1.6% in 2017, the positive result of 1.7% in the “wage costs” and 1.2% in the “other costs”.