The Labour Cost Index (LCI) working days adjusted increased by 2.9% in the 2nd quarter of 2017, compared with the same period in 2016. In the previous quarter, it was recorded a year-on-year increase of 3.4%.
The two main labour cost components are wage costs and other costs (per hour actually worked). The wage costs increased by 2.8% and the other costs raised by 3.5%.
The LCI year-on-year rate of change was also a result of an increase of 1.4% in the average cost per employee and a decrease of 1.6% in the number of hours actually worked per employee. The increase of the first component was common to all activities, whereas the decrease in the last component was mainly due to the behaviour of economic activities that belong to the public sector.