MADRID, 15 Mar. (EUROPA PRESS) -
The average labor cost per worker and month (which includes salaries and social contributions) rose 5% in the fourth quarter of 2023 compared to the same period in 2022, reaching 3,145.99 euros, its highest figure in a fourth quarter since 2000, the National Institute of Statistics (INE) reported this Friday.
This increase in labor costs, which has accumulated twelve consecutive quarters of increases, remains in line with the data recorded in the third quarter of 2023, when it also stood at 5%.
The labor cost is made up of the salary cost and other costs. Between October and December, salaries (all remuneration, both in cash and in kind) rose 4% year-on-year in gross terms, reaching an average of 2,359.38 euros per worker per month, the highest figure in a quarter quarter since the beginning of the series, in 2000.
Other costs (non-salary costs) totaled 786.61 euros per worker per month in the fourth quarter of last year, with a year-on-year increase of 8%. The most important component of the other costs is mandatory Social Security contributions, which increased 7% more than in the fourth quarter of 2022.
According to the INE, the labor cost per effective hour rose by 6.1% in annual rate in the last quarter of the year, to 24.98 euros, due to the 0.5% decrease in effective working hours. For its part, the labor cost per hour paid increased by 5% year-on-year, to 20.73 euros.
The INE also provides calendar-corrected and seasonally adjusted data for this statistic. According to this series, the labor cost per worker rose by 5.2% year-on-year in the fourth quarter of 2023, one tenth less than in the previous quarter. With this increase, there are thirteen consecutive quarters of year-on-year increases in the corrected series.
In quarter-on-quarter terms (fourth quarter over the third quarter of the year), the labor cost per worker per month increased by 1% in data corrected for seasonality and calendar, three tenths more than in the third quarter.
By activity sections, the labor cost registered its greatest increases in administrative activities and auxiliary services (7.8%, up to 2,202.17 euros), and in information and communications (7.6%, up to 4,578.97 euros). . On the contrary, it fell in the supply of electricity, gas, steam and air conditioning (-2.9%, to 6,212.58 euros).
By autonomous community, the highest labor costs were recorded in the Balearic Islands (9.5%, up to 3,216.64 euros), Aragon (7.8%, up to 3,148.77 euros) and Catalonia (5.6%, up to 3,148.77 euros). 3,394.01 euros). On the other hand, Extremadura (0.9%, up to 2,501.06 euros) and the Basque Country (2.2%, up to 3,643.5 euros) recorded the smallest increases.
ALMOST 140,000 VACANCIES IN THE FOURTH QUARTER
The INE has also reported that in the fourth quarter of 2024, 139,314 job vacancies were registered. Of the total vacancies, 88.8% belonged to the services sector.
A job vacancy is defined as a newly created job that is not filled or is about to become vacant and for which the employer is taking active steps to find a candidate from outside the company.
93% of the companies questioned by the INE responded that they had no vacancies to fill between October and December because they did not need additional workers.
Madrid and Catalonia had the highest number of vacancies in the fourth quarter, with 31,474 and 26,927, respectively, while Cantabria and La Rioja presented the lowest figures, with 567 and 560 vacancies, respectively.
