The labour cost index measures developments in labour costs per man-hour worked and is harmonised across Europe. It indicates from a cost perspective the risks to price stability and contributes to the location and competition analyses in a European comparison.
Seasonally and working-day-adjusted or just working-day-adjusted time series are provided (using version 0.2.8 of the Census X-12-ARIMA program) in addition to the unadjusted data published by the Federal Statistical Office.
Negotiated pay rate statistics
The Deutsche Bundesbank's negotiated pay rate statistics track the development of the negotiated wages of all the main sectors of the German economy. The negotiated wage agreements concluded in around 60 sectors for just under 20 million employees in all (wage earners, salaried staff and civil servants) are the basis for these statistics. Monthly index levels are calculated for the economy as a whole and the production sector (including construction). The developments in negotiated wages in specific sectors, as measured by the representative wage or salary group in each case (recipients of the reference wage or salary), are adequately condensed across the individual economic sectors.
Negotiated wages are generally shown inclusive of all negotiated one-off payments and ancillary benefits (notably holiday pay, Christmas bonus, other regular special payments as well as contributions to capital formation and pension scheme payments). In addition, the Bundesbank also publishes results without one-off payments and the negotiated rates of basic pay (ie excluding one-off payments and excluding ancillary benefits). The statistics provided on the Bundesbank's website also include, for comparison, quarterly data on the development of actual earnings, which are calculated using Federal Statistical Office figures. All indicators are provided as wages and salaries on a monthly and on an hourly basis.
Every three months the Bundesbank Monthly Report contains a detailed analysis of developments in wages and salaries in Germany.