Press Release: Harmonised Labour Cost Index (HLCI). Base 2020. Fourth Quarter 2024. Provisional data.

Main Results

The cost per hour worked increased by 3.7% in the annual rate in the series adjusted for calendar and seasonal effects, and 2.3% in the original series.
The activity that recorded the greatest increase in the annual rate in adjusted data was Finance and insurance activities (6.0%).
The quarterly variation in the cost per hour worked, after eliminating calendar and seasonal effects, was 0.3%.

More information

The labour cost per hour worked, measured by the HLCI –keeping the structure by branches of activity constant– increased by 3.7% in the fourth quarter compared with the same period in the previous year, if seasonal and calendar effects are eliminated.

In unadjusted data, the annual variation of the cost per hour was 2.3%.

General index and index corrected for seasonal and calendar effects

Annual variation rate. Percentage

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The cost per hour worked increased by 3.6% at an annual rate in data corrected for seasonality and calendar effects. On the other hand, other costs rose by 3.8%.

Harmonised Labour Cost Index. Fourth quarter 2024

Annual indices and variation rates

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Results by activity sections

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

Labour cost recorded the smallest increases in Construction (1.8%), Real estate activities (2.1%) and Public administration and defence; compulsory social security (2.2%).

Index adjusted for seasonal and calendar effects. Fourth quarter 2024

Annual variation rate. Percentage

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Quarterly evolution of the index

The variation in the HCLI between the fourth and third quarter of 2024, eliminating the seasonality and calendar effects, was 0.3%.

Labour Cost Index adjusted for seasonal and calendar effects

Quarterly variation rate. Percentage

The quarterly labour cost rate, deseasonalised and corrected for calendar effects was 0.4%. On the other hand, other costs did not rise in this quarter.

Excluding seasonal and calendar adjustment, the quarterly rate was 1.2%, mainly due to the greater weight of extraordinary payments in this quarter compared to the previous one.

Harmonised Labour Cost Index. Fourth quarter 2024

Quarterly indices and variation rates

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Revision and updating of data

INE has today updated the HCLI data for the third quarter of 2024. All results are available on INEBase.

Methodological note

The Harmonised Labour Cost Index (HLCI) is a quarterly continuous statistical operation whose objective is to provide a common and comparable measure of labour cost per hour worked for the whole of the European Union, allowing the monitoring of the evolution of said labour costs.

Indices with base 2020 are provided for total labour costs, wages and salaries and other costs net of subsidies received for the use of labour factor (includes social contributions payable by employers and non-wage payments). The index for total labour cost is also provided excluding extraordinary payments and delayed payments.

Type of operation:: Statistics presented mainly in the form of indices.
Base year:: 2020.
Population scope:: Employees in local units.
Sources of information:: The Quarterly Labour Cost Survey which is conducted on the basis of the Social Security contribution accounts. General Scheme: Sections B to S of CNAE-09 and Special Scheme for Seafarers: Sea Transport (Division 50 of CNAE-09). In order to cover all employees of the general government, information from the DARETRI file is used.
Geographical scope:: the entire national territory.
Reference period of the results:: the calendar quarter.
Calculation method:: Chained Laspeyres.

For more information, you can access the methodology and the standardised methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information in Quality in the INE and Code of Good Practices.