Turkey’s labor cost index rises by 11 percent in Q3

According to a report released on December 16 by the Turkish Statistical Board (TurkStat), hourly labor cost index rose by 11 percent year-on-year in the third quarter of 2010. The increase was 11.5 percent for industry sector, 10.5 percent for construction sector and 10.4 percent for services sector.

Turkey’s hourly earning index in Q3 2010 also increased, showing changes in regular and irregular payments to employees. Year-by-year, Turkey’s competitive advantage from lower labor costs diminishes.

Source: Today’s Zaman

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