Monthly average labor cost $1,244 in Turkey

ANKARA - Anadolu Agency

The monthly average labor cost was estimated as 2,680 liras ($1,244) for 2012, TÜİK said, adding this figure was 1,833 lira ($851) for 2008. DAILY NEWS photo, Selahattin SÖNMEZ

Turkey’s monthly average labor cost was 2,680 Turkish liras ($1,244) for 2012 according to the Turkish Statistical Authority (TÜİK).

TÜİK on Dec. 30 announced the results of a labor cost survey that was conducted to give information on the total labor cost of employment to the employer and shares of these cost items within total labor cost.
The monthly average labor cost was estimated as 2,680 liras ($1,244) for 2012, TÜİK said, adding this figure was 1,833 lira ($851) for 2008.

The report shows that the highest labor cost was observed in the financial and insurance activities sectors in 2012 with 6,418 liras ($2,980).

The labor cost for information and communication sectors was 6,032 lira ($2,804) and electricity, gas, steam and air conditioning supply sector with 5,546 liras ($2,575).

The lowest labor cost pertained to administrative and support service activities sector with 1,716 liras ($797). This sector was followed by the construction sector with 1,874 liras ($870) and accommodation and food service activities sector with 1,907 liras ($886).

According to the report, the greatest share within labor cost was attributed to wage payments by 76.6 percent. Social security payments’ share, other payments and other labor costs made up 15.7 percent, 7.2 percent, and 0.5 percent respectively.