Hourly labour construction costs up 4.2%

Only 0.3% in real terms

 

Hourly labour costs in construction were 4.2% higher than the same month of the previous year in December 2007, according to the latest figures, while they were 4.9% higher in January 2007.

The figures are based on a new index of 2000=100.

Taking the reported consumer price inflation rate of 3.9% in December 2007, this implies that hourly labour costs in construction rose in real terms by only 0.3% in December 2007.

In January, with a consumer price inflation rate of 1.6%, hourly labour costs rose in real terms rose by 3.3%.