Gross earnings up 2.3% in 3RD QTR

| Tue, 12/25/2007 - 04:39

Gross earnings up 2.3% in 3RD QTRItaly's per capita gross earnings increased by 2.3% year-on-year in the third quarter of 2007, Italian National Statistics Institute ISTAT reported on Tuesday.

Gross wages went up 0.6% between the second and third quarters as the consumer price index climbed by 1.6% (the EU harmonised index (CPI) went up 1.7%).

The year-on-year wage increases were 2.7% in the industrial sector and 1.9% in the services sector. Over the third quarter the climb was 0.7% in the industrial sector and 0.5% for services.

Social security contributions rose by an average of 2.9%, while average labour costs rose by 2.4%.

The increase in social security contributions was due to the 3.2% rise reported in the industrial sector and the 3.0% rise reported for services.

Seasonally adjusted social security contributions went up 0.6% quarter-on-quarter thanks to the 0.7% increase in the industrial sector and the 0.6% increase in the services sector.

The average labour cost increased as a result of the growth by 2.8% in industry and 2.1% in services. On a quarterly basis, the rise in labour cost was 0.5%, following the rise of 0.7% and 0.4% in the industrial and services sectors, respectively.

Topic: