Friday, April 15, 2016
The 2013 Labor Cost Survey (LCS) is one of the modules of the 2013/2014 Integrated Survey on Labor and Employment (ISLE), formerly the BLES Integrated Survey (BITS). The ISLE is a nationwide establishment survey conducted by the Philippine Statistics Authority (PSA) covering 8,399 agricultural and non-agricultural establishments employing at least 20 workers.
The LCS is intended to provide data that would address the gap in wage statistics, specifically on the evolution of labor cost and its various components. Particularly, the survey inquires on the different components of expenses incurred by employers in engaging the services of its workers.
According to the ILO Resolution regarding labor cost statistics adopted by the 11th Conference of Labour Statisticians in October 1966, the statistical concept of labor cost comprises remuneration for work performed, payments in respect of time paid but not worked, bonuses and gratuities, the cost of food, drink and other payments in kind, cost of workers’ housing borne by employers, employers’ social security expenditures, cost to the employer for vocational training, welfare services and miscellaneous items, such as transport of workers, work clothes and recruitment, together with taxes regarded as labor cost.
This issue of LABSTAT Updates focuses on the different components of bonuses and gratuities by industry in 2013. In particular, bonuses and gratuities are year-end, seasonal and other one-time bonuses (mid-year/Christmas bonus, 13th/14th/15th month pay and the like), profit sharing bonuses and additional payments in respect of vacation, supplementary to normal vacation pay.
Total labor cost during the year was posted at P1,065.7 billion for which bonuses and gratuities contributed the second biggest share at 9.5% next to direct wages and salaries.
The metadata and the statistical tables of the survey are posted at the PSA website.
See full article at the LabStat Updates main page.