In the fourth quarter of 2024, the employment index in industrial, construction and trade-services sectors increased by 2.6% compared to the same period of the previous year. Analyzing the sub-sectors, there was a 0.8% decrease in the industrial sector, 5.7% increase in construction and 4.0% increase in trade-services sectors.
On a quarterly basis, employment index increased by 0.3%. There was a 0.6% decline in the industrial sector, a 0.9% increase in construction and a 0.7% increase in trade-services sectors.
Working Hours Index Declined
The working hours index showed a 0.3% decrease on a yearly basis in the fourth quarter of 2024. In the industrial sector, the index dropped by 3.8%, while it increased by 0.3% in the construction sector and by 1.7% in the trade-services sectors.
On a quarterly basis, the working hours index increased by 1.3%. The industrial sector saw a 0.2% increase, while the construction sector experienced a 0.7% decline, and the trade-services sector increased by 2.3%.
Gross Wage-Salary Index Increased by 72.7% y-o-y
In the total of the industrial, construction, and trade-services sectors, the gross wage-salary index increased by 72.7% in the fourth quarter of 2024 compared to the same period of the previous year. The industrial sector saw a 70.4% increase, the construction sector experienced a 69.2% rise, and the trade-services sector increased by 74.6%.
On a quarterly basis, the gross wage-salary index increased by 11.7%. The industrial sector saw an increase of 12.6%, the construction sector grew by 6.5%, and the trade-services sector saw an 11.8% rise.
Hourly Labor Cost Index Increased by 75.6% y-o-y
The hourly labor cost index in the total of the industrial, construction, and trade-services sectors increased by 75.6% in the fourth quarter of 2024 compared to the same period of the previous year. By sector, the industrial sector saw an 80.9% increase, the construction sector increased by 69.8%, and the trade-services sector increased by 73.6%.
On a quarterly basis, the hourly labor cost index increased by 10.3%. The industrial sector saw a 12.5% rise, the construction sector increased by 7.5%, and the trade-services sector increased by 9.2%.
Hourly Earnings Index and Non-Wage Labor Cost Index Increased
The hourly earnings index increased by 73.1% y-o-y in the fourth quarter of 2024. In the industrial sector, it rose by 77.2%, in the construction sector by 68.7%, and in the trade-services sector by 71.7%.
The non-wage labor cost index increased by 88.5% y-o-y, with the industrial sector seeing a 99.9% increase, the construction sector rising by 74.8%, and the trade-services sector increasing by 83.8%.
On a quarterly basis, the hourly earnings index increased by 10.3%, and the non-wage labor cost index increased by 10.0%.
Growth Was Also Recorded in the Previous Quarter
In TÜİK’s third-quarter 2024 data, the employment index had increased by 3.0% y-o-y. Significant growth was observed in the construction and trade-services sectors, while the industrial sector showed a stagnant trend.
The newly released fourth-quarter data shows that employment growth in the construction and trade-services sectors continues, while the decline in the industrial sector is noteworthy.
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