Labour Cost Index LCI European Union Regulations European
Labour Cost Index (LCI) European Union Regulations
• European Union; Council, Parliament and Commission • Eurostat is one of fourty General Directorates in the Commission • Eurostat is devided in 6 Directorates • Directorate F is about ”Social Statistics” • One of 5 sections under Social Statistics is ”Labour Market” • Each section has its own socalled Working group. LAbour MArket Statistics (LAMAS) • LCS, SES, Gender Pay Gap, LFS, Labour Market Policy, Job Vacancy and LCI Labour Cost Index (LCI)
• Discussions in LAMAS takes in some way takes as its starting point the regulations • One of the most important statistics is the LCI • Council regulation No. 450/2003 • Commission regulation No. 1216/2003 • Contains both instructions on the definitions and the provision of a quality report. • Objective of the LCI is to; Establish a common framework for the production, transmission and evaluation of comparable labour cost indices in the European Union. Labour Cost Index (LCI)
• LCI is defined as an anually chain linked Laspeyres Index of labour costs per hour worked • It covers all employees in sections B to S of NACE rev 2. • Member states has to deliver an index series in three forms; - Unadjusted - Working-day adjusted - Seasonally and working-day adjusted Labour Cost Index (LCI)
• The data of each series has to be broken down by: - Economic activity defined by NACE rev 2 - Labour cost items; • Total labour costs • Wages and salaries • Other costs Labour Cost Index (LCI)
• Data shall be compiled for every quarter • Indices shall be transmitted within 70 days of the end of the reference period • Backdata covering from the first quarter of 1996 shall be delivered • No requirements of specific sources • But, a yearly quality report has to be provided every year and shall comprise descriptions of the following subjects. . . Labour Cost Index (LCI)
• • Relevance Accuracy Timeliness and punctuality Accessibility and clarity Comparability Coherence Completeness Labour Cost Index (LCI)
- Slides: 7