INE: up labor costs in the fourth quarter of 2015 – TVI24

The private sector Labour Cost Index Portuguese had an annual increase of 2% in the fourth quarter of 2015, supported the growth of wages and other costs, following a decline of 0.9% in the previous quarter.

the National Statistics Institute said that the two main components of labor costs – wage costs and other costs per hour actually worked – had increases of 1.6% and 3.2%, respectively

in the previous quarter, labor costs had fallen 2.6% and the non-wage cost component was down 1.8%.

Does the NSAs to such growth also contributed to the increase 0.1% in the number of hours actually worked and of 2.0% in average labor costs.

the ICT is a short term indicator which, in addition to the labor costs borne by the employer, takes into account the number of hours actually worked per worker measuring the development of average labor costs per hour actually worked.

These costs include, in addition to labor costs, other labor costs borne by the entity employer.

in the full year 2015, ICT increased by 1.8%, benefiting from a 1.5% increase in labor costs and 2.7% in other labor costs.

“This development also results from the combined effect of the 1.2% increase in average labor costs and a decrease of 0.7% in the number of hours actually worked,” emphasized the INE.

in 2014, ICT has had a decrease of 3.4%, which corresponded to decreases of 3.2% and 3.8% of labor costs and other costs, respectively.