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European Economic News

UK Labor Costs Rise In Q1

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Labor costs in the UK increased in the first quarter of 2013 from a year earlier, data from the Office for National Statistical Office revealed Monday.

The index of labor costs per hour, an experimental measure, increased 2 percent in the first quarter compared with the same quarter a year earlier.

This means the labor costs increased before inflation is taken into account, the statistical office said. In the fourth quarter of 2012, the index fell 0.5 percent year-on-year.

Wage costs per hour worked increased 1.6 percent from last year, while non-wage costs per hour worked increased 4.3 percent.

Labor costs per hour in the public sector was 2.1 percent higher than the third quarter of 2012, while private sector saw a 1.7 percent increase in labor costs.

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