The work cost per hour worked moderates its escalation after two and a half years of increases

The work cost per hour worked in the last quarter of 2024 with an increase of 2.3%, according to the data without correcting. These data certify a moderation of the increase, despite accumulating two and a half years of increases. If seasonal and calendar effects are eliminated, this increase is at 3.7%, according to the index that measures the ICLA.

The largest increase in the cost occurred in the second quarter of 2019, coinciding with the increase in the minimum interprofessional salary of 736 euros per month to 900. Now, the increase in labor costs have been 14 months of increases, since second quarter of the year 2021.

The activities with the highest annual rates this quarter, if the seasonal and calendar effects are eliminated, were financial and insurance activities (6.0%), extractive industries (5.9%) and artistic, recreational and entertainment activities (5.7%).

The labor cost registered the lower increases in construction (1.8%), real estate activities (2.1%) and public administration and defense; Compulsory Social Security (2.2%).

Intertramestral comparison, the variation of the ICLA between the fourth and the third quarter of 2024, eliminating the seasonal and calendar effects, was 0.3%. The quarterly rate of the endless and corrected salary cost of calendar was 0.4%. For their part, the other costs did not increase in this quarter.

Without taking into account the seasonal and calendar adjustment, the quarterly rate was 1.2% due, fundamentally, to the greatest weight of extraordinary payments in this quarter compared to the previous one.

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The work cost per hour worked moderates its escalation after two and a half years of increases