The labour cost of companies grew 2.4% in the second quarter compared with the same period of 2018, until 2.664,55 euros per worker and month , which represents the largest increase in nearly a decade. The increase is a result of the rise in wage costs and social security contributions, after that in January 2019, the minimum wage and the contribution bases were to rise by 22.3%.
According to the quarterly survey of labour costs (QLCS), which published this Tuesday by the National Statistics Institute (INE), the wage cost increased by 2.1%, the highest growth since the fourth quarter of 2013, with an average earning per worker of 1992,18 euros a month.
The other costs, including the Social Security contributions, increased by 3,4%, up to 672,37 euros.
obligatory contributions to Social Security grew 3.9 %, up to 618,87 euros per worker, while the non-wage payments decreased by 1.6% due to the lower severance payments.
The labour cost per effective hour increased by 5.9% , as a result of the lower number of hours worked, due to the fact that the easter Week took place this year in the second quarter, while in 2018 fell at the first.
according To the survey, in the second quarter had 107.531 job vacancy in Spain -nine out of every ten in the services sector-the highest figure since the INE began to publish this information in 2013.
The average agreed working week , jointly considering full and part-time, was 34.2 hours in the second quarter, of which are lost to 4.4 hours per week, the majority (2.7 hours) due to holidays taken and public holidays.
Services registered the greatest rise
By economic sectors, services recorded the largest increase (2.7 percent) of the labour cost, the growth of wages and contributions, while that in construction and industry increased by 1.5 and 1.8%, respectively.
By sections of activity, the highest growth of the labour cost is given in art activities, recreation and entertainment , real estate activities and education, while it decreased in the financial and insurance activities, and in the extractive industries.
The labor cost in Madrid and the Basque Country exceeds in more than 350 euros the national average, while in Extremadura and the Canary islands is lower than the average in the same amount.
In all of the autonomous regions increased the labour cost in the second quarter, although the strongest growth has occurred in Cantabria and Galicia (4.3% in both), while the smallest increases were in the Balearic islands and Navarra (1% in both).Updated Date: 17 September 2019, 21:00