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Labour Cost Index by Economic Activity (Base Year 2020=100) 2000Q1-2023Q3, Quarterly

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Phani Lagou, Statistics Officer, Tel: 22602115, Email: plagou@cystat.mof.gov.cy
15/12/2023
Number, Percentage
Yes
Statistical Service of Cyprus
1121104E
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Data from quarter 1, 2023 are provisional. Data from the first quarter of 2021 to the second quarter of 2023 were revised.
N.A.: Not applicable
Methodological information
1. Labour cost index shows the short-term development of the total cost, on an hourly basis, for employers of employing the labour force. The index covers all market economic activities except Section A: Agriculture, forestry and fishing, Section T: Activities of households as employers and Section U: Activities of extraterritorial organisations and bodies.
2. Total labour costs include gross wages and salaries, employers social contributions and taxes net of subsidies connected to employment. The labour cost index is compiled as a 'chain-linked Laspeyres cost-index' using a common index reference period (2020 = 100). The index is presented in non-seasonally adjusted and seasonally adjusted form.
3. Two additional indices are presented, breaking down each component of total labour cost:
(a) 'Wages and Salaries', that refer to gross wages and salaries, and
(b) 'Non-wage cost', that refer to employers social contributions and taxes net of subsidies connected to employment.
4. Seasonally adjusted data may differ in each publication because when new observations are added, the parameters of the model change. Once a year the model is revised.
Contact Details
Michael Karaolis Str.
1444 Nicosia, Cyprus