The labor cost defines the economic effort that the employer must make for the working hours of an employee, which includes salaries, Social Security contributions, compensation and social benefits, among other costs.
Canary Islands registered in the last quarter of last year the lowest labor cost in Spain, the National Institute of Statistics (INE) reported this Thursday. It was an average of 2,475.33 euros per month, at a rate of 19.33 euros per hour worked.
And the cost per worker and month increased in the last quarter of 2022 in all autonomous communities. In the Canary Islands, the increase was 4.9% compared to the same period of the previous year. In this way, it is positioned as the fourth highest increase in Spain after Cantabria (8.44%), Extremadura (7.73%) and the Balearic Islands (6.99%).
National figures
According to the Quarterly Labor Cost Survey (ETCL) of the INE, the average increase in Spain was 4.2% to 2,996.63 euros, a figure that is exceeded by País Vasco (3,564.79 euros), Madrid (3,492.37 euros), Navarra (3,302.20 euros) and Cataluña (3,214.50 euros).
On the contrary, the lowest labor costs were located at the end of 2022 in the Canary Islands (2,475.33 euros) and in all the communities of the southern peninsula: Extremadura (2,479.20 euros), Andalucía (2,627.60), the Valencian Community (2,677.06), Murcia (2,681.41) and Castilla-La Mancha (2,694.87).
