Economy category powered by

Hourly labour costs in Cyprus up by 4.9% in Q1 2024

Cyprus has reported a 4.9% rise in hourly labour costs (total cost) during the first quarter of 2024 compared to the same period last year, according to data released by CySTAT.

The increase in labour costs is attributed to significant growth in both wages and salaries per hour worked, as well as non-wage costs per hour worked. Specifically, wages and salaries saw a 4.5% increase, while non-wage costs increased by 6.5% compared to the corresponding quarter of the previous year.

The hourly labour cost (total cost), seasonally adjusted, increased by 1.4% compared to the previous quarter. The hourly labour cost that refers to wages and salaries, seasonally adjusted, increased by 1.1% and the non-wage cost, seasonally adjusted, increased by 2.6%.

(Source: CNA)

Read More

Cyprus airports not affected by software technical problems
CySEC imposes €200,000 administrative fine on IC Markets (EU) Ltd
Technical outage has caused no major problems in Cyprus, Research DepMin source says
Elias Neocleous & Co LLC achieves Band 1 ranking for High-Net-Worth client services
Global IT system outage prompts Wizz Air to advise passengers to get to airport early
Food and Wine sector among our priorities, Tourism Minister says
Careers in RegTech: Why IT experts choose to work at Complytek
AHEPA Supreme Convention to take place in Cyprus 21-26 July
Netflix premiering Cyprus-produced 'Find Me Falling' (video)
Limassol Chamber representatives meet with Health Minister