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Financial News: Spain Labor Costs Rise In Q1

Spain Labor Costs Rise In Q1

06/16/2022 - 07:13:00 (RTTNews)

(RTTNews) - Spain's labor costs increased for the fifth consecutive quarter in the three months ended March, and at a faster pace, data from the statistical office INE showed on Thursday.

The labor cost per worker and month in the country grew 4.7 percent annually in the first quarter, following a 4.4 percent increase in the previous quarter.

Total wage costs per worker rose 5.2 percent in the March quarter compared to last year.

Data also showed that other costs per worker registered an increase of 3.2 percent and that the cost per effective hour showed no variations in the March quarter.

On a quarterly basis, the rate of labor costs per worker climbed a seasonally and calendar-adjusted 1.2 percent in the first quarter.

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