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Labour costs in the 3rd quarter of 2016 up 2.5% on the same period of 2015

2016-12-09 12:17:19

Press releases - Labour costs in the 3rd quarter of 2016 up 2.5% on the same period of 2015 - Federal Statistical Office (Destatis)

WIESBADEN - In Germany, labour costs per hour worked rose 2.5% in the third quarter of 2016 on a calendar adjusted basis, compared with the third quarter of 2015. The Federal Statistical Office (Destatis) also reports that, compared with the previous quarter, labour costs were up 0.8% in seasonally and calendar adjusted terms. 

Labour costs consist of gross earnings and non-wage costs. In calendar adjusted terms, the costs of gross earnings in the third quarter of 2016 rose 2.4% on the same quarter of 2015, while non-wage costs were up 2.8%. 

For the second quarter of 2016, rates of labour cost change are available for 27 of the 28 European Union (EU) Member States. According to those results, the price of one hour worked in Germany rose a calendar adjusted 1.9% on the same quarter a year earlier. In the entire EU, the increase in labour costs averaged 1.4% in that period. The highest growth rates within the EU were recorded in Romania ( 12.0%), Latvia ( 9.5%) and Bulgaria ( 7.3%). However, labour costs declined in Finland (-2.0%), Italy (-1.1%) and Luxembourg (-1.1%). In France, the increase in labour costs ( 1.4%) was lower than in Germany. In Belgium, labour costs remained nearly unchanged ( 0.1%). 

The rates of labour cost change are based on the results of the labour cost index. The latter measures the change in labour costs and additionally provides a breakdown of labour costs into their two components, namely gross earnings and non-wage costs. In all three indices, the costs borne by employers are compared with the hours actually worked by employees. 

Revisions in the data sources used for calculating the labour cost index led to adjustments above all of the calendar and seasonally adjusted quarter-on-quarter growth rates. However, the calendar adjusted year-on-year growth rate of the labour cost index for the second quarter of 2016 was raised from 1.8% to 1.9%, too.

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Kategorie: Federal Statistical Office of Germany News
Quelle: www.destatis.de