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 INEbase / Harmonised Labour Cost Index / Methodology |
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Summary
The main objective of the Harmonised Labour Cost Index is to provide a common, comparable and timely measure of the labour costs for all the European Union, which allows for a follow-up of the evolution of said labour costs. The legal basis for the process of the harmonisation of the Labour Cost Index (HLCI) is European Parliament and Council Regulation 450/2003 of 27 February 2003, that establishes a common framework for the compilation, transmission and assessment of comparable labour costs indices. The harmonised labour cost index is a Laspeyres Index of the labour cost per hour worked, linked annually and based on a fixed structure of the economic activity broken down by sections of the CNAE-09. The source of information used to compile the HLCI are the provisional results drawn from the Quarterly Labour Cost Survey (QLCS). Said survey is used to obtain the cost per hour worked in the different sections of the CNAE-09, and the yearly weightings required to calculate the Laspeyres index. Calculations consider the year 2008 as the base period. The QLCS is also used for section O (Public Administration, Defence and Social Security), but only for workers under the General Social Security scheme. For workers under the Pensioners and State Mutual Societies scheme, the following sources are used: the DARETRI System of remunerations within the state public sector, the statistics on the Execution of the Budget of the State Public Accounts Department for social contributions, and the Economically Active Population Survey for effective hours worked. The publication is delayed 70 days after the reference quarter. The formula employed to calculate the HLCI is: HLCI where,
With yearly weightings being , |
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=labour costs per hour worked by the employees in the economic activity i during the period t
=hours worked by the employees in the economic activity i in the period t
=labour costs per hour worked by the employees in the economic activity i during the yearly period j
