Hourly Labour Cost €18,10 According to the results of the Labour Cost Survey (LCS), with reference year 2020, the hourly cost (labour cost per hour worked) for the whole economy (excluding sections Agriculture, Forestry and Fishing, Activities of Households as Employers and Activities of Extraterritorial Organizations and Bodies) is €18,10. Hourly Labour Cost The hourly labour cost by economic activity exhibits large deviations. The lowest hourly labour cost is recorded in the sector of Accommodation and Food Service Activities, at €7,30, followed by €11,20 in the sector of the Wholesale and retail trade; Repair of motor vehicles and motorcycles. The highest is recorded in the Education sector with €36,20, followed by the Financial and Insurance Activities sector with €33,70. (Chart 1) Annual and Monthly Labour Cost The annual labour cost per
employee in full-time units (FTU) without apprentices, in 2020 is €30.335 and
the corresponding monthly cost is €2.528. The sector of Accommodation and food
service activities has the lowest annual and monthly cost per employee with
€11.201 and €933 respectively, while Financial and Insurance Activities
sector has the highest among the economic activities with €55.467 and €4.622.
(Table)
The total labour cost is
composed mainly of Wages and Salaries (78,6%) and Employers’ Social
Contributions (21,1%). Vocational Training, Other Expenditures paid by the
employer and Taxes paid by the employer, comprise a minor part of the total
costs. (Chart 2)
The average hours actually worked by full-time employees per year range from 1.296 (Education) to 1.926 (Mining and quarrying). The average paid hours for full-time employees per year range from 1.527 (Arts, entertainment and recreation) to 2.207 (Mining and quarrying). (Chart 3)
METHODOLOGICAL
INFORMATION Survey Identity The Statistical Service of
Cyprus has carried out the Labour Cost Survey with reference year 2020. The
Cyprus Statistical Service has carried out the LCS for the sixth time (2020,
2016, 2012, 2008, 2004, 2000), in compliance with the Council Regulation (EC)
No 530/1999 concerning structural statistics on earnings and on labour costs
and the Commission Regulation 1737/2005 of 21 October 2005 amending
Regulation (EC) No 1726/1999 as regards the definition and transmission of
information on labour costs. The results provide data on labour cost, hours
of work and labour cost per hour, analyzed by economic activity and
enterprise size.
Labour costs mean the total expenditure borne by employers in order to employ
staff. Labour costs include compensation of employees with wages and salaries
in cash or in kind and employers’ social contributions, vocational-training
costs, other expenditures, taxes relating to employment regarded as labour
costs, less any subsidies received. The results of the survey
reflect the special circumstances of the reference year, since the
government’s measures to deal with the pandemic affected both labor costs and
working hours. Moreover, this situation has led to further difficulty in
collecting the data. It is clarified that, as regards the wages and salaries
of employees who participated in the Special Schemes of the Ministry of
Labour and Social Insurance in the framework of the Employees’ Support
Measures to deal with the pandemic, the amount taken into account is the
earnings paid by the employer and does not include any amount paid as an
allowance by the Ministry of Labour and Social Insurance. Hourly labour cost is the labour cost per actual hour worked. Annual cost per employee in FTU without apprentices is the annual labour cost, without the
cost of employing apprentices, per employee in full-time units. Monthly cost per employee without apprentices is the annual cost per employee in FTU
without apprentices divided by 12. Hours actually worked are defined as the sum of all periods spent on direct
and ancillary activities to produce goods and services. Hours actually worked
include hours worked during normal periods of work, overtime, short breaks
and hours spent in training. Hours actually worked exclude hours paid but not
worked (holidays, public holidays, paid sickness and maternity leaves) and
hours not worked and not paid, for example, during unpaid sickness and
maternity leaves. Hours worked should be “actual
hours worked” rather than “contracted hours”. However, these may not always
be easy to obtain and it may be necessary to make use of contractual hours
instead. This usually occurs for some professional groups – as in the case of
teachers who generally work more overtime on an unpaid basis. Hours paid cover the total number of hours paid by all employees during
the year. The total number of hours actually paid is recorded separately for
full-time employees, part-time employees and apprentices. The annual number of paid hours
is defined as: — normal and overtime hours
remunerated during the year,
Statistical unit The statistical unit is the
enterprise or local unit. The government has a number of local units
conducting different economic activities. Data were selected for each local
unit separately. Coverage of employees All enterprises with 10 or more
employees in economic activities NACE Rev. 2 sections B to S were covered.
Both private and public sectors were covered. Economic Activities Coverage NACE Rev. 2 sections B to S
(Industry, construction and services) are covered. Enterprise Size Coverage The size of the enterprise, in
terms of the number of employees, is classified using the following bands: 10
to 49, 50 to 249, 250 to 499, 500 to 999, 1000 and more employees. Reference area Government controlled area of
the Republic of Cyprus.
CYSTAT Portal, subtheme Labour Cost and Earnings
Phani Lagou: Tel:+35722602115, Email: plagou@cystat.mof.gov.cy
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