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Index of Labour cost in Construction
July, August, September 2002

The Statistical Service announces that the Index of Labour Cost (average hourly labour cost) in the Construction Sector for the months of July/August/September, 2002 rose to 245,1 units, compared to 241,9 units in the preceding months of April/May/June, 2002.

The rise of the Index is attributed to the increases granted a) in the Cost of Living allowance as from 1st July, 2002 and b) in the increase of the employers’ contribution to the Leave and Medical Funds according to the Collective Agreement between the building Contractors Association and Trade Unions.

The evolution of the index during the last 15 months was as follows:
Month and Year New Index
(March 1989=100.0)		 Old Index
(March 1985=100.0)
July/August/September 2001 232,8 295,9
October/November/December 2001 233,1 296,3
January/February/March 2002 241,9 307,5
April/May/June 2002 241,9 307,5
July/August/September 2002 245,1 311,6

(Note.: The new index of 245,1 units corresponds to 452,3 units of the old index with base March 1981=100,0)

 

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