Labour Cost Index (LCI) European Union Regulations

Labour Cost Index (LCI) 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 rev2. 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 rev2 - 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