Labour Cost in Spain
Eurostat · Quarterly · Importance 90
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About this indicator
| Source | EUROSTAT |
|---|---|
| Frequency | Quarterly |
| Release | Dos meses más tarde del período analizado. |
| What it is | It tracks the change in labour cost per worker in Spain, that is, the total expense a firm incurs to employ its staff: gross wages and salaries (including all supplements), employer social-security contributions and other net employment-related costs. It is published by INE. |
| How it's calculated | It comes from INE's Quarterly Labour Cost Survey, as the average cost per worker (and also per hour worked). Both the index and its year-on-year rate of change are published, in nominal terms. |
| Market implications | Since labour costs make up a large share of firms' expenses, it is a useful indicator of inflationary pressure: if it rises sharply, companies may pass it on to final prices or adjust headcount. It is a key variable for assessing competitiveness and for the ECB. |
| Limitations | Labour costs across the euro area are not fully harmonised, so there are differences between countries in definition, calculation and coverage; the series is also quarterly and sensitive to calendar effects and to shifts in the composition of employment. |