Business

Labor input indices increased by 3.3% year-on-year in the second quarter

The employment index in industry, construction and trade-services sectors increased by 3.3% on an annual basis in the second quarter of the year.

Turkish Statistical Institute announced the labor force input indices for the April-June 2023 period.

Accordingly, the employment index in the sum of industry, construction and trade-service sectors increased by 3.3% in the second quarter of the year compared to the same period of the previous year. When the sub-sectors are analyzed, the index increased by 0.9% in the industrial sector, 10.2% in the construction sector and 3.5% in the trade-service sectors.

The index of hours worked in the total of industry, construction and trade-service sectors increased by 1.3% in the April-June period compared to the same quarter of the previous year. While the index decreased by 0.7% in the industrial sector, it increased by 8% in the construction sector and 1.3% in the trade-service sectors.

Gross wage-salary index increased by 111.1% in the second quarter of the year compared to the same quarter of the previous year. The index increased by 104.3% in the industrial sector, 126.1% in the construction sector and 114.2% in the trade-service sectors.

The employment index in the total of industry, construction and trade-service sectors decreased by 0.1% in the second quarter of the year compared to the first quarter. When the sub-sectors are analyzed, the index decreased by 0.9% in the industrial sector, increased by 0.3% in the construction sector and 0.4% in the trade-service sectors.

Hours worked index across sectors decreased by 0.1% in the second quarter compared to the previous quarter. While the index decreased by 0.8% in the industrial sector, it increased by 0.4% in the construction sector and 0.2% in the trade-service sectors.

Gross wage-salary index increased by 12.8% in the second quarter compared to the previous quarter. When the sub-sectors are analyzed, the index recorded an increase of 12.3% in the industry sector, 11.3% in the construction sector and 13.3% in the trade-service sectors.

Hourly labor cost and earnings

The hourly labor cost index in industry, construction and trade-service sectors increased by 113.7% in the second quarter of the year compared to the same quarter of the previous year. The index increased by 111.8% in the industrial sector, 111.7% in the construction sector and 116.6% in the trade-service sectors.

The hourly earnings index rose 108.3% over the same period. When the sub-sectors are analyzed, the index increased by 105.6% in the industrial sector, 109.4% in the construction sector and 111.4% in the trade-service sectors.

The hourly labor cost index, excluding the industry, construction and trade-services sectors, rose 144.4% year-on-year in the second quarter. In the index, an increase of 147.2% was seen in the industrial sector, 124% in the construction sector, and 146.7% in the trade-service sectors.

Hourly labor cost index across sectors increased by 10.7% in the second quarter of this year compared to the previous quarter. When the sub-sectors are analyzed, the index increased by 9.8% in the industry sector, 10.2% in the construction sector and 11.6% in the trade-service sectors.

The hourly earnings index in the total of industry, construction and trade-services sectors increased by 12.9% in the second quarter compared to the previous quarter. The index recorded an increase of 13.2% in the industrial sector, 10.8% in the construction sector and 13.1% in the trade-service sectors.

The hourly labor cost excluding earnings index increased 1.6% in the same period. When the sub-sectors are analyzed, it is calculated that the index decreased by 2.7% in the industry sector, increased by 7.3% in the construction sector and increased by 4.7% in the trade-service sectors.

Source: AA / Prepared by Irem Yildiz

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