The latest data from the quarterly labor cost survey (Encuesta Trimestral de Coste Laboral – ETCL) in Spain for the second quarter of 2023 has been released. The report indicates a notable increase in labor costs for companies compared to the same period in 2022.
Key Highlights:
- Overall Labor Cost: The cost of labor per worker per month reached €3,037.52 in the second quarter of 2023. This represents a significant increase of 5.8% compared to the same period last year. This rise reflects various factors, including wage adjustments and changes in working conditions.
- Salarial Costs: Within the overall labor cost, the salarial cost per worker per month stood at €2,262.63. This also showed an increase of 5.0% compared to the second quarter of 2022.
These findings indicate the evolving landscape of labor costs in Spain, which can impact businesses, employment practices, and economic planning. The increase in labor costs may be attributed to several factors, including inflation, collective bargaining agreements, and changes in demand for certain industries.
The data from the ETCL survey provides valuable insights for policymakers, businesses, and economic analysts, enabling them to assess labor market dynamics and make informed decisions.
For a more detailed breakdown of the survey results and analysis, please refer to the official ETCL report for the second quarter of 2023.