Hourly labor costs rise by 2.7 percent in the fourth quarter of 2025

Preliminary data from the Statistical Service indicates that hourly labor costs increased by 2.7% in the fourth quarter of 2025 compared to the same period in 2024. This figure represents a deceleration in growth compared to previous periods, as the annual increase was 3.7% in the third quarter of 2025 and 5.2% in the fourth quarter of 2024. Regarding the two main components of labor costs, wages and salaries rose by 2.7%, while non-wage costs increased by 2.9%. These figures are notably lower than the growth rates observed in previous quarters. On a seasonally adjusted basis, total hourly labor costs rose by 0.7% compared to the third quarter of 2025. Both the wage and non-wage components also recorded a seasonally adjusted quarterly increase of 0.7%. These statistics reflect ongoing trends in the national labor market during the specified timeframe.