Hourly labor cost, up by 4.37% in fourth quarter of 2023

The hourly labor cost in adjusted form (according to the number of working days) registered, in the fourth quarter of 2023, a growth rate of 4.37%, compared to the previous quarter, and of 16.85% compared to the same period of 2022, informs the National Institute of Statistics through a press release sent to AGERPRES on Tuesday.

Compared to the third quarter of 2023, the hourly labor cost (adjusted for the number of working days) increased in most economic activities.

According to the INS, the most significant increases in the hourly labor cost (adjusted for the number of working days) were found in construction (16.94%), hotels and restaurants (11.40%), transport and storage (11.19%), respectively in real estate transactions (10.95%).