The cost of labor per hour worked increased by 1.6% year-on-year in the second quarter of the year, the lowest increase in the last two years and far from the 7.6% (after revision of one tenth above) that increased between January and March. In this sense, the hourly wage worked – the most important component of the cost of labor – increased by 1.5% compared to the previous year.
The Provisional Harmonized Labor Cost Index (ICLA) published this Tuesday by the National Institute of Statistics (INE) now includes 11 consecutive months of increases in labor costs, and 12 months of wage costs (the total expense item per worker that the employer allocates to wages).
