Hourly labour cost

Labour costs, including gross wages and salaries (as well as bonuses of all kinds), employers' social security contributions and other labour costs (e.g. vocational training costs, recruitment costs and employment-related taxes), net of subsidies, per hour actually worked. Hourly costs may be obtained by dividing the sum total of these costs for all employees by the sum total of all hours worked by them (including overtime). (European Central Bank)

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Principal