In the second quarter of 2022, the labor cost for each worker in real estate activities was 3,050.11 euros per month, 12% more than the period of the previous year, and 4% more compared to the first quarter of the year, according to published data from the Quarterly Labor Cost Survey (Etcl) carried out by the National Institute of Statistics (INE).
The segment ratifies the upward trend registered in the last quarter of 2021, in which it registered a rise of 3.5%, and which continued in the first three months of 2022, 11% more compared to the same period of the previous year. Of the labor cost of workers in real estate activities in the second quarter, 2,250.75 euros correspond to the total salary cost, while 1,829.38 euros correspond to the ordinary salary cost.
On the other hand, 799.36 euros of the expense correspond to costs for mandatory contributions. The upward trend in real estate activities also affects the other real estate subsectors. The construction of buildings recorded a labor cost of 2,964.05 euros in June, which represents an increase of 5% compared to the same period in 2021. In the specialized construction segment, the growth in labor cost has climbed 6% annually, reaching an average labor cost of 2,954.16 euros.
For its part, rental activities have registered an interannual increase of 8%, placing the labor cost at 2,785.41 euros per worker. Rental activities is the only sub-segment in which labor costs fell compared to the first three months of the year, posting a 2% drop.
The rest of the subsectors recorded increases compared to the previous quarter, highlighting the 14% rise in specialized construction activities and 11% in building construction.
In the general statistics, the labor cost of Spanish companies stood at 2,871.64 euros per worker and month in the second quarter, with an upward variation of 3.8% compared to the same period in 2021. Regarding the wage cost per worker and month, this increased by 4.3% and reached 2,153.88 euros on average. For its part, other costs grew by 2.2%, standing at 717.76 euros per worker per month. Source: Ejeprime