FAMAGUSTA GAZETTE – Provisional data for the fourth quarter of 2024 indicate a 5.6% annual increase in hourly labour costs compared to the same period in 2023. Wages and salaries per hour worked rose by 5.3%, while non-wage costs increased by 7.0%.
Seasonally adjusted data show a 1.3% rise in total hourly labour costs from the previous quarter, with wages and salaries up by 1.3% and non-wage costs by 1.2%.
These figures reflect ongoing trends in labour cost dynamics starting from early 2024.