The labor cost increased 2.6% in the third quarter
The cost per hour worked rose 2.6% between July and September of this year, compared to the same period of 2017, marking the largest increase in a third quarter of the year since 2009.
According to the harmonized labor cost index (ICLA) published today by the National Institute of Statistics (INE), once the seasonal and calendar effects were eliminated, the annual change in the cost per hour was 2.4%.
With respect to the second quarter of the year, the cost per hour worked increased by 8.1%, due to the greater weight of extraordinary payments in the third quarter compared to the second.
