In the first quarter of 2024 compared to the same period of 2023, the hourly labor cost (working days adjusted) increased in all economic activities.
The most significant increases of the hourly labor cost (working days adjusted) were found in education (33.30%), accommodation and food service activities (27.06%), transportation and storage (20.96%), respectively in construction (20.49%).
As compared to the first quarter of 2023, the hourly labor cost (working days adjusted) increased the least in mining and quarrying (8.69%), human health and social work activities (9.94%), respectively in administrative and support service activities
(10.68%).
As against the same quarter of the previous year, the direct cost component (wages and salaries) increased in quarter I 2024 by 16.44% and the other cost component (non-wage costs) by 16.49%.
In the first quarter of 2024 compared to the same period of 2023, the hourly labor cost (working days adjusted) increased in the majority of economic activities.
Compared to the analyzed period, most significant decreases of the hourly labor cost (working days adjusted) were noticed in
electricity, gas, steam and air conditioning supply (-12.88%), respectively in mining and quarrying (-10.11%).
As against the previous quarter, the direct cost component (wages and salaries) increased by 1.88% and the other cost
component (non-wage costs) by 1.10%.
The most significant increases of the hourly labor cost (working days adjusted) were found in education (11.52%), mainly due to the application of the legal basis, real estate activities (10.09%), respectively in accommodation and food service activities
(8.82%).
The quarterly labor cost index is a short-term indicator that reflects the evaluation of the tendencies of the hourly costs incurred by employers with labor force.