In the last quarter of 2014
Labour Cost Index decreased by 6.4% from the corresponding quarter of 2013
The Labour Cost Index (working days adjusted) decreased by 6.4% in the 4th quarter of 2014, compared with the same period of 2013.
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” declined by 5.2% from the year-ago quarter and the “other costs” decreased by 11.0%.
At the country level, the index decreased by 3.7% year-on year. “Wage costs” dropped by 4.0% while “other costs” fell by 2.8%.
The annual data show that in 2014, the regional Labour Cost Index (LCI) decreased by 1.2% when compared to 2013. This decline was determined by the negative rate of change in both “wage costs” (-0.9%) and “other costs” (-2.3%). In Portugal a negative trend was also recorded with the LCI dropping by 1.0% in 2014 (-1.2% in “wage costs” and -0.2% in “other costs”).