The labor cost index increased by 3,2% in 2022 and 1,4% in the fourth quarter, in year-on-year terms, a slowdown compared to the previous quarter, announced today the National Institute of Statistics (INE).
«In 2022, the ICT [labor cost index] increased by 3,2%, which corresponded to increases of 3,0% in wage costs and 4,0% in other costs», informed the statistical authority.
According to INE, «the increase in non-wage costs was due to the increase in employer contributions resulting from the progressive reduction of companies covered by the 'lay off' simplified in the private sector of the economy».
Thus, the average cost per worker increased by 4,3% and the number of hours actually worked per worker increased by 1,3%.
In the fourth quarter of 2023, the ICT registered a year-on-year increase of 1,4%, which compares with an increase of 4,3% in the previous quarter.
In that period, wage costs (per hour actually worked) increased by 1,4% and other costs (also per hour actually worked) increased by 1,3%, in relation to the same period of the previous year.
According to INE, the year-on-year evolution of the WAI resulted from the 4,7% increase in the average cost per employee and the 3,4% increase in the number of hours actually worked per employee.
«The increase in the first component was transversal to all economic activities, in which the greatest variations were registered in activities that fall under sections B to N (5,0% in Industry, 4,7% in Construction and 5,9% in Services)», while the Public Administration observed a smaller increase, of 3,3%, highlighted the entity.
The number of hours actually worked per employee also increased in all economic activities, with the lowest increase recorded in Construction (1,9%) and the highest in Public Administration (5,6%).
The WAI increased in all economic activities, having decreased only in Public Administration (2,0%).
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