Third quarter 2024
Labor cost increases by 4.4% in the third quarter of 2024
The labor cost per worker and month increased by 4.4% in the third quarter of 2024 compared to the same period of the previous year, reaching 3,020.71 euros, according to the latest available data. Of this figure, the salary cost rose by 4.1%, reaching 2,205.43 euros, while other costs registered an increase of 5.2%. Within these other costs, mandatory Social Security contributions, its main component, grew by 4.5%.
If calendar and seasonality effects are eliminated, the labor cost showed the same year-on-year increase as 4.4%, although compared to the previous quarter the increase was 1.2%.
Labor cost by sectors of activity
The largest increases in labor costs were observed in:
- Extractive industries
- Professional, scientific and technical activities
- Health and social services activities
In contrast, the smallest increases were recorded in:
- Administrative activities and auxiliary services
- Supply of electricity, gas, steam and air conditioning
- Construction
Labor cost by autonomous communities
Regarding the regions, the largest increases in labor costs occurred in:
- Estremadura
- Murcia Region
- Valencian Community
On the contrary, the communities with the smallest increases were:
- Andalusia
- the Basque Country
- Castile-La Mancha
Vacancies in the labor market
In relation to job vacancies, the autonomous communities with the highest number of offers were:
- Community of Madrid
- Catalonia
- Andalusia
Meanwhile, the regions with the fewest registered vacancies were:
- Rioja
- Cantabria
- Estremadura
More information at INE
