Global Mobility

IMF raises Spanish growth forecasts

INE, the national institute of statistics in Spain, has recently reported on its quarterly survey of Spanish labour costs for Q1 2015. The main results were:

  • The labour cost of companies increases 0.5% in the first quarter of 2015, as compared to the same period of the previous year, standing at 2,487.77 euros per worker per month.
  • The wage cost per worker per month increases by 1.4%, standing at an average of 1,831.70 euros. In turn, other costs decrease by 1.9%, standing at an average of 655.74 euros per worker and per month.
  • During the first quarter of 2015, the average agreed working day is 34.3 hours, considering together full-time and part-time. Among them, an average of 3.6 hours per week are lost, of which 2.0 are due to holiday periods.
  • The labour cost per effective hour worked increases 1.2% in the annual rate, more than the wage cost per worker, as a consequence of the lower number of hours worked.
  • In the quarterly rate, and considering the results adjusted for seasonal and calendar effects, the wage cost per worker increases by 0.3% and the wage cost per effective hour worked does so by 0.4%.
  • Regarding the seasonally and calendar adjusted data, the wage cost per worker increases 0.3% in the first quarter of 2015, as compared to the same period of 2014, and the cost per effective hour worked increases 0.7%.
  • In the first quarter of 2015, the number of vacancies was 58,707.  89.3% were registered in the Services sector.

Mark Evamy – HR Forum Collaborator

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