The Labour Cost Index (LCI) working days adjusted increased by 13.5% in the 1st quarter of 2020, compared to the same period in 2019. In the previous quarter the rate of change had been 7.7%.
This development was a result of the combined effect of the decrease of 0.7% in the average cost per employee with the reduction of 12.2% in the number of hours actually worked per employee. The decrease of the latter component took place in all the economic activities analysed, in line with results recently released within the scope of the Employment Statistics. The decrease of the average cost per employee was observed in all the economic activities with exception to the Public Administration, where it increased 2.6%.
The two main labour cost components per hour actually worked – wage costs and other costs – increased by 15.2% and by 5.4%, respectively, compared to the same period of the previous year.