The Labour Cost Index (LCI) working days adjusted increased by 6.5% in the 1st quarter of 2020, compared to the same period in 2019. In the previous quarter this rate of change had been 0.8%.
That year-on-year change was explained by the increase of 3.1% in the average cost per employee combined with the decrease of 3.4% in the number of hours actually worked per employee. The increase of the first component and the decrease of the hours component took place in all the economic activities analysed. The decrease in the hours component contrasts with the increase observed in the previous quarter, explaining the LCI acceleration in the 1st quarter of 2020.
The two main labour cost components – wage costs and other costs (both per hour actually worked) – increased by 6.3% and by 7.6%, respectively, compared to the same period of the previous year.