SANTA CRUZ DE TENERIFE, 17th June (EUROPA PRESS) –
During the first quarter of 2024, the labour costs that companies had to cover for each employee in the Canary Islands amounted to 2,517.10 euros per month, showing an increase of 1.9% compared to the same period in the previous year. Meanwhile, salaries reached 1,813.23 euros per month per worker, representing a rise of 1.5%, as per the Quarterly Labour Cost Survey by the National Institute of Statistics (INE) published on Monday.
In the Canary Islands, the labour cost per effective hour was 19.35 euros in the first quarter, which is a 7.7% increase from the same period in the previous year—a figure below the national average of 23.1 euros (7.4%).
The total labour cost comprises salary costs and other expenses. Salaries in the archipelago increased by 1.5% year-on-year between January and March, reaching 1,813.23 euros per worker per month. Other expenses, excluding salaries, amounted to 703.87 euros in the first quarter, reflecting a growth of 3.1% from the previous year.
In the first quarter of 2024, the number of working hours per worker per month on the islands was 153.4 agreed hours, 130.1 effective hours, and 24 hours off work.
The Canary Islands ranked among the regions with the most job vacancies between January and March, with 7,524 vacancies, trailing behind Madrid (32,669), Catalonia (28,062), Andalusia (20,234), Valencian Community (15,773), and Castilla y León (9,581).
NATIONAL FIGURES
Across Spain, the average labour cost per worker per month, encompassing salaries and social contributions, increased by 3.9% in the first quarter compared to the same period in 2023, surpassing the 3,000 euro mark for the first time.
Specifically, the labour cost reached an average of 3,009.87 euros per worker per month in the first quarter, marking the highest value since the series began in 2000.
Despite this, the rise in labour costs, which has seen 13 consecutive quarters of growth, is the least significant since the second quarter of 2022, when it rose by 3.8% year-on-year.
The labour cost consists of salary expenses and other outgoings. Salaries increased by 3.7% year-on-year in gross terms between January and March, amounting to an average of 2,206.06 euros per worker per month, the highest figure in a first quarter since 2000.
This increase marks 13 consecutive quarters of salary growth as well.
Other costs, excluding salaries, were 803.81 euros per worker per month in the first quarter, showing a 4.2% increase from the previous year.
The cost per effective hour increased by 7.4% year-on-year in the first quarter to 23.10 euros, while the cost per paid hour rose by 3.9% to 19.91 euros.
There were 149,962 job vacancies in the first quarter, 317 more than in the same period the year before.
