Canary Islands, with the highest annual rise in labor cost per worker and month

Image of a worker on a terrace.

The archipelago is the second lowest in the country, with about 400 euros less than the national average

EFE The Gran Canarian palms

The labor cost per worker and month stood at
Canary Islands At the end of the first quarter of this year in
€2,322.55the second lowest in the country, with about
400 euros less than the national averagealthough it was the one that grew the most in annual rate, 14.5%, according to data from the INE.

In the said period, the
labor cost per effective hour was 17.65 euros in the Canary Islands, which represented a year-on-year increase of 1.8%.

The same upward trend was registered in the salary cost in the Islands until March, since
worker and month stood at 1,690.91 euros, 15.2% more, and per effective hour at 12.85 euros, that is, 2.5% more than in the same period of the previous year.

In the first quarter of 2022,
The Canary Islands have registered 4,272 job vacancies, 3.2% of all those in the country, fundamentally because in the templates to which those positions belonged, no more workers were needed and, to a much lesser extent,
3% of casesdue to the high contracting cost involved in its coverage.

At the national level, the labor cost of companies
increased 4.7% between January and March compared to the same period in 2021 and stood at 2,729.01 euros per worker and month, accumulating five quarters on the rise.

According to the Quarterly Labor Cost Survey (ETCL), published this Thursday by the National Institute of Statistics (INE), the increase in labor cost was due to
higher number of hours workedsince the reduction in time not worked due to ERTE compensated for the increase in hours not worked due to vacations and sick leave.

The salary cost per worker and month (which includes base salary, supplements, payments for overtime and arrears in gross terms)
rose 5.2% to 2,006.61 euros on averagesurpassing for the first time in the first quarter of the year the barrier of 2,000 euros.

other costs grew by 3.5%, to 722.40 euros per worker and month, due to the fact that its main component, Social Security contributions, increased by 4.8%, although the 3.9% drop in non-wage payments stood out, including severance payments.

In seasonally adjusted data, the labor cost increased by 4.5% year-on-year in the first quarter of the year, thus chaining six quarters on the rise.

Hospitality registers the highest salary increase

By activity sections,
salary costs The largest increases were recorded in the hospitality industry (67.8%), artistic activities (13.6%), real estate (12%) and financial activities (11.5%).

On the contrary,
biggest wage cuts they were accounted for in the extractive industries (30.3%9) and the supply of electricity and gas (10.2%).

Thus and by sectors, the services presented the May
r labor cost growth total (5.7%) and its main components as a result of the greater number of hours actually worked in this sector.

The industry, For its part, it registered the lowest increase in labor costs (1.4%), followed by construction (2.9%), due in both cases to a lower growth of
wages and the stability of the other costs due to the decrease in severance payments.

By region, the labor cost registered the
largest increases in the Canary IslandsBalearic Islands and La Rioja, and minors in Navarra, Cantabria and Murcia.

The labor cost in Madrid and the Basque Country exceeded the national average by more than 400 euros.

During the first quarter of the year the
agreed average weekly hours (if full-time and part-time are considered together) was 34.6 hours, of which 4.4 hours were lost per week (2.6 of them due to vacations and parties enjoyed).

In the
first quarter of the year there were 133,988 job vacancies in Spain, being the highest figure in the series that begins in 2013. 94.4% of the companies stated that they had no vacancies because "they do not need additional workers".

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