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Hourly labour costs up 4% in the third quarter of 2024

07:53 - 17 December 2024

Economy Reporter

The hourly labour costs increased by 4% in the third quarter of 2024, compared with the same quarter of the previous year, according to provisional data published by CySTAT.

The two main components of labour costs, wages and salaries per hour worked and non-wage costs per hour worked, increased by 4.6% and 1.5% respectively, compared with the same quarter of the previous year.

The hourly labour cost (total cost), seasonally adjusted, increased by 1% compared to the previous quarter. The hourly labour cost that refers to wages and salaries, seasonally adjusted, increased by 1.2% and the non-wage cost, seasonally adjusted, increased by 0.3%.

(Source: CNA)

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