MADRID, 11 Dic. (EUROPA PRESS) –
The cost per hour worked increased by 5.4% in the third quarter of the year compared to the same period in 2022, a rate 1.1 points lower than that of the previous quarter, when it reached its largest increase since the second quarter of 2020, in full pandemic.
With the rebound in the July-September period, labor costs have seen nine quarters of year-on-year increases, according to provisional data from the Harmonized Labor Cost Index (ICLA) published this Monday by the National Institute of Statistics (INE).
By components, the salary cost increased in the third quarter of the year by 4.6% compared to the same quarter of 2022, while other costs rose by 7.8%. The labor cost, excluding extraordinary payments and delays, grew by 5.7% year-on-year in the third tranche of 2023.
Eliminating seasonal and calendar effects, the labor cost per hour worked increased by 5.7% in the third quarter of 2023 compared to the same period in 2022, a rate that exceeds that of the previous quarter by one tenth and is the highest since the arrival of Covid, specifically since the second quarter of 2020.
With this rebound, there are also nine quarters of positive rates in the corrected series.
In a quarterly rate (third quarter over second quarter), the labor cost per hour worked rose 0.9% in the series corrected for seasonal and calendar effects, six tenths less than in the previous quarter.
With this increase, nine quarters of quarterly increases have also accumulated.
Without taking into account the seasonal and calendar adjustment, the labor cost increased by 3.1% between July and September due, fundamentally, to the lower number of hours worked during the vacation period compared to the previous quarter.
By components, the salary cost increased by 1.3% quarterly, while other costs increased by 8.6%. The labor cost, excluding extraordinary payments and delays, rose 8.2% compared to the second quarter.
In seasonally adjusted values, labor costs increased by 0.9% on a quarterly basis, with a 1% increase in salary costs, a 0.5% increase in other costs and a 1% increase in labor costs without extraordinary payments. no delays.
THE LABOR COST OF REAL ESTATE ACTIVITIES, THE ONE THAT INCREASES THE MOST
The activities that recorded the largest annual increases in labor costs in the third quarter of 2023 were real estate activities (13%); information and communications (8.2%) and artistic, recreational and entertainment activities (7.8%).
On the other hand, the smallest advances in labor costs occurred in the extractive industries (0.3%); the supply of electricity, gas, steam and air conditioning (1.8%), and financial and insurance activities (3%).
If seasonal and calendar effects are eliminated, the activities where labor costs increased the most in the third quarter of 2023 in relation to the same period in 2022 were also real estate activities (13.2%) and information and communications (8.3). %). The smallest advances in the corrected series were experienced by extractive industries (2.7%), financial activities (3.7%) and education (3.9%).
Regarding salaries, real estate activities led the year-on-year increases in the third quarter of the year, with an increase of 14.1%, followed by information and communications (8.3%). The only annual decline in wages in the third quarter was recorded in the extractive industries, with a decline of 3.1%.
