Labor cost index creeps up

ANKARA - Anatolia News Agency

Turkey’s hourly labor cost index was up 10.2 percent in the fourth quarter of 2011 from the fourth quarter of 2010. Its hourly earnings index was also up 10.4 percent, according to data revealed March 9 by the Turkish Statistical Institute (TÜİK).

The hourly labor cost index for the fourth quarter of 2011 showed the highest increase at 16.7 percent for the management and support services sectors.

Meanwhile, the cost for employers of social security and severances payments, excluding payments, was also up by 9.1 percent in the fourth quarter of 2011.