Hourly Labor Cost Index Increases by 34 Percent Annually

Limited Increase in Employment Index The Turkish Statistical Institute (TURKSTAT) has released the labor input indices for the fourth quarter of last year.
According to the data, the employment index in the industry, construction, and trade-service sectors increased by 1.1 percent on an annual basis.
On a quarterly basis, employment rose by 0.3 percent compared to the previous quarter.
These figures indicate that growth in the labor market continues, albeit at a limited pace.
Labor Costs Continue to Rise The rate of increase in labor costs continues to outpace the growth in employment.
Hourly labor costs saw a significant annual increase of 34 percent, reflecting ongoing cost pressures on businesses.
Sectoral Input Data The released data highlights the labor cost structure across the Turkish economy.
Specifically, cost increases in the industrial and service sectors maintain their decisive impact on the overall index.