Revised Hourly Labour Cost Index - all employees 

ICHTrev-TS

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Paru le :Paru le19/04/2024
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Description

The revised Hourly Labour Cost Index - all Employees (ICHTrev-TS) allows the monitoring of trends in the hourly cost of labour (remunerations, social contributions and taxes inclusive of subsidies) and acts as a reference for certain contractual indexing clauses. The choice of an index for the purpose of indexing a contract is at the discretion of the contractors.

The index is computed on the basis quaterly data, smoothed using a 4-quarter moving average (i.e. over the last four quarters) to ensure less volatility of the index, and then made monthly by linear interpolation.

This index was calculated for the first time in 2009. It replaces the ICHT-TS, created in 1996, which was calculated on a "structure-constant" basis, i.e. not taking account of any changes in job qualifications.

The old-formula ICHT-TS only covered 4 specific business sectors (Mechanical and Electrical Industries, Textile, Leather and Clothing, and Services provided primarily to enterprises). It replaced the Workers’ Labour Cost Index (ICMO).