In the 3rd quarter of 2023, the Labour Cost Index (LCI) recorded a year-on-year increase of 4.9%. In the previous quarter, it had increased 3.7%.

The wage costs (per hour actually worked) increased by 4.6%, and the other labour costs (also per hour actually worked) increased by 6.2%, compared with the same period of the previous year.

The year-on-year change of the LCI resulted also from the increase of 6.3% in the average cost per employee and the 1.6% rise in the number of hours actually worked per employee. The increase of the first component was common to all economic activities, with smaller variations than those observed in the preceding quarter. The highest increase was registered in Construction (7.8%) and the lowest in the Public Administration (6.1%). The hours actually worked per employee also recorded increases in all economic activities with the largest increase being observed in Public Administration (1.8%) and the smallest in Services (1.4%). As a result of these variations, the LCI increased in all economic activities, with the largest increase being recorded in Construction (6.2%).