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Hourly labour cost up 4.8% in Q2 on annual basis

07:42 - 17 September 2024

Economy Reporter

In the 2nd quarter of 2024, the hourly labour costs increased by 4.8%, compared with the same quarter of the previous year, based on 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 4.4% and 6.4% respectively, compared with the same quarter of the previous year.

The hourly labour cost (total cost), seasonally adjusted, increased by 1.3% compared to the previous quarter. The hourly labour cost that refers to wages and salaries, seasonally adjusted, increased by 1.3% and the non-wage cost, seasonally adjusted, increased by 1.5%.

(Source: CNA)

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