Economy category powered by

Hourly labour cost up 5.6% y-o-y in Q4

Hourly labour cost in the fourth quarter of 2024 recorded an annual increase by 5.6%, according to CyStat. 

On the basis of provisional data, it said it is estimated that in the fourth quarter of 2024 hourly labour costs (total cost) increased by 5.6%, compared with the same quarter of the previous year.

The two main components of labour costs, wages and salaries per hour worked and non-wage costs per hour worked increased by 5.3% and 7.0% respectively, compared with the same quarter of the previous year, it adds.

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 1.2%, the Statistical Service says.

Read More

Shipping Deputy Minister meets with President of the Arab Academy for Science, Technology and Maritime Transport
Cyprus-based Outfit7 announces new games, new audiences, and new Talking Tom
US delays higher tariffs but announces new rates for some nations
13th Invest Cyprus International Investment Awards almost here
Highest midday power demand of the year anticipated to have been this week, official data show
European Affairs Minister in London for working visit
Christodoulides: New natural gas discovery in EEZ reaffirms Cyprus’ energy potential
Theo Parperis on how establishing Cyprus as one of the region's family office hubs will increase FDI
President to hold teleconference with ExxonMobil this afternoon
Israel's Transport Minister paying Cyprus official visit