Labor costs continue to rise in Spain and this summer they broke a new record. Including salaries and social contributions, in the third quarter of this year they increased by 4.4% compared to the same period of the previous year, reaching 3,020.7 euros on average per worker and month. The data is from the latest edition of the INE labor costs survey.
After 15 consecutive quarters of increases, the indicator stands at its highest figure for a third quarter since 2000. This rise is explained by the increase in mandatory Social Security contributions, which grew by 4.5%.
Contributions are the most important part of the package that the INE calls ‘other costs’ and which in the July-September period stood at 815.28 euros per worker per month, a year-on-year increase of 5.2%.
Then there are salaries, which rose by 4.1% year-on-year, reaching an average of 2,205.4 euros per person. Again, it is the highest figure in twenty-five years.
By autonomous community, Extremadura, the Region of Murcia and the Valencian Community presented the largest increases in labor costs, while Andalusia, the Basque Country and Castilla-La Mancha were the ones that saw the smallest increases.
#Labor #costs #exceed #euros #time #quarter
