labor costs have two main components, labor costs and other costs per hour actually worked, and in 2014 were increases of 1.5% in labor costs and 2.7% in other labor costs which led to the total increase the index by 1.8% during 2015.
In the previous year, the Labour Cost Index (LCI) had decreased by 3.4%, which corresponded to decreases of 3.2% and 3.8% of labor costs and other costs, respectively.
In 2015, the ICT recorded an annual increase of 2.9% in economic activities covering, generally, the private sector of the economy, and 0.3% in other economic activities, which include mainly, but not exclusively, activities in the sphere the public sector.
“Since the first quarter of 2010 (excluding the fourth quarter of this year, the last three quarters of 2013 and the first and second quarters of 2015), the ICT in Portugal recorded lower variations to those observed for the average of the European Union,” Le- on the INE’s note.
The fourth quarter of last year, the ICT increased by 2% (as in the previous quarter had decreased by 0.9%), driven by increases of 1.6% in labor costs and 3.2% for other labor costs.
“For this development [the fourth quarter] also contributed the increase of 0.1% in the number of hours actually worked and 2% in average labor costs,” says the INE.
The cost of labor increased by 2% in the fourth quarter of last year compared to the same period last year.
In the subset of economic activities covering, generally, the private sector of the economy, the ICT recorded in this fourth quarter year on year increase of 2.4%.
In other economic activities, which include mainly activities in the sphere of public sector ICT registered a year on year increase of 1.3%.
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