In the third quarter of 2024 compared to the same quarter of 2023, the hourly labor costs adjusted to the number of working days grew by 17.12%.

Quarter III 2024 compared to Quarter II 2024   In the third quarter of 2024 compared to the second quarter of 2024, the hourly labor cost adjusted to the number of working days increased across the majority of economic activities.   The most significant increase of the hourly labor cost adjusted to the number of working days was recorded in education (43.32%), due to school holiday and, consequently, the reduction of the working time.   Also, higher increases of the hourly labor cost adjusted to the number of working days were recorded in arts, entertainment and recreation (4.38%), human health and social work activities (3.17%), respectively in other service activities (3.05%).   Compared to the analyzed period, the most significant decreases of the hourly labor cost adjusted to the number of working days were seen in financial and insurance activities (-9.88%), real estate activities (-3.71%), respectively in information and communication (-3.46%).   As against the previous quarter, the direct costs component (wages and salaries) grew by 3.19% and the other costs component (non-wages costs) by 3.02%.   Quarter III 2024 compared to Quarter III 2023   In the third quarter of 2024 compared to the third quarter of 2023, the hourly labor cost adjusted to the number of working days increased across all economic activities.   The most significant increases of the hourly labor cost adjusted to the number of working days were found in education (26.71%), accommodation and food service activities (24.46%), real estate activities (22.03%), respectively in other service activities (21.99%).   As compared to the third quarter of 2023, the hourly labor cost adjusted to the number of working days saw the lowest increase in electricity, gas, steam and air conditioning supply (11.27%), information and communication (11.45%), respectively in administrative and support service activities (12.93%).   As against the same quarter of the previous year, the direct costs component (wages and salaries) advanced in the third quarter of 2024 by 17.15% and the other costs component (non-wages costs) by 16.51%.   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.
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