Turkey's monthly average labor cost $1,244
TurkStat announced on Monday the Results Of Labour Cost Survey for 2012. The survey was conducted to give information on total labour cost of employment to the employer and shares of these cost items within total labour cost.
The monthly average labour cost was estimated as 2,680 Turkish Lira (1,244 US dollar) for 2012 TurkStat said, adding, this figure was 1,833 Turkish Lira (851 US dollar) for 2008.
The report shows that the highest labour cost was observed in financial and insurance activities sectors in 2012 with 6,418 Turkish Lira (2,980 US dollar).
The labour cost for information and communication sectors was 6,032 Turkish Lira (2,804 US dollar) and electricity, gas, steam and air conditioning supply sector with 5,546 Turkish Lira (2,575 US dollar).
The lowest labour cost pertained to administrative and support service activities sector with 1,716 Turkish Lira (797 US dollar). This sector was followed by the construction sector with 1,874 Turkish Lira (870 US dollar) and accommodation and food service activities sector with 1,907 Turkish Lira (886 US dollar).
- Wage payments at 76.6 percent of all labour cost
According to the report, the greatest share within labour cost attributes to wage payments by 76.6 percent. Social security payments share, other payments and other labour cost was realized as 15.7 percent, 7.2 percent, and 0.5 percent respectively.