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

07:02 - 19 March 2025

Economy

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.

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