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Compensation of Employees

Compensation of Employees

Compensation of Employees increased by 2.7% in Q1 2024

Online ISSN: 2009-5775
CSO statistical publication, , 11am
Table 7.1 Compensation of Employees by Nace Rev. 2 A10 Sector of Origin, Q1 20241
 Amount €mQuarterly % change
Public Admin, Education and Health8,9960.5
Distribution, Transport, Hotels and Restaurants5,865-2.4
Professional, Admin and Support Services4,6794.8
Industry (excl. Construction)4,33911.9
Information and Communication2,9100.9
Financial and Insurance Activities2,5203.5
Construction1,5167.8
Arts, Entertainment and Other Services6370.3
Real Estate Activities22713.4
Agriculture, Forestry and Fishing2140.5
Total31,9042.7
1Constant Market Prices, seasonally adjusted.

On a seasonally adjusted basis, total Compensation of Employees increased by 2.7% in the first quarter of 2024. The Largest increases in growth quarter on quarter can be seen in Real Estate Activities (13.4%) and Industry (11.9%). The only sector that witnessed negative growth quarter on quarter was Distribution, Transport, Hotels and
Restaurants (-2.4%).

`-ConstantCurrent
2018Q1-0.2687260326752040.57922171786764
2018Q23.276479865387772.6144327266477
2018Q30.2677371958756952.26966171533576
2018Q42.220467694203991.20119565219878
2019Q10.9836846370743892.62044883132793
2019Q20.6925304820534221.86236860729301
2019Q30.5917352898528570.480699855998612
2019Q40.5899278433609382.43290721987743
2020Q1-1.456049151647721.21186644252558
2020Q2-12.1877342449597-11.1652008596058
2020Q313.74083264401777.28257433488151
2020Q4-1.636202044995576.13767291742109
2021Q1-1.15956398879936-2.42019547015958
2021Q25.026203589932355.20637627100702
2021Q32.123435695107935.08396067810482
2021Q43.750520035530962.92662131537018
2022Q11.92136025757821-0.313876585721784
2022Q20.6623698803783332.85749049330102
2022Q30.5818384521995012.1021025254625
2022Q41.268223177371142.32473205644732
2023Q11.248817389548963.00893415253589
2023Q21.029374287808121.23458224248392
2023Q3-0.114040213028110.509942348774284
2023Q4-0.4433185096344832.0275296413647
2024Q12.683138756424214.71895346824955
Column1Q1 2024Q1 2023
Public Admin, Education and Health9.1183282639.106822851
Distribution, Transport, Hotels and Restaurants5.8596826865.610412254
Industry (excl. Construction)4.4116523654.414640024
Professional, Admin and Support Services4.6846319514.278852682
Information and Communication2.9361836183.103020297
Financial and Insurance Activities2.5700239762.507781913
Construction1.4756952411.458129359
Arts, Entertainment and Other Services0.63662520.62346895
Real Estate Activities0.2202980.237806867
Agriculture Forestry and Fishing0.2139569320.190407115

Compensation of Employees increased by 1.9% in Q1 2024 compared to the corresponding period of the previous year. The largest increase by sector can be seen in Agriculture, Forestry and Fishing (12.4%).

ForeignDomestic
Q1 20209.1325017706682117.3398738693318
Q2 20208.1028323855050415.200469177495
Q3 20208.0242489056482416.5620394063518
Q4 20208.7995381877388518.1513877442612
Q1 20219.3740645831753116.6933714798247
Q2 20219.1243682478921518.1440189451079
Q3 20218.8636900295932519.3417925004068
Q4 20219.6119190964001420.0404078875999
Q1 202210.981802550386618.7182557766134
Q2 202210.45351783631619.773661007684
Q3 202210.222596580347720.0388931686523
Q4 202210.608388847914821.1064200010852
Q1 202312.343033038477120.7490669995229
Q2 202311.63581652829821.347024042702
Q3 202311.091480240165221.3482339918348
Q4 202311.509014595128722.2119492388713
Q1 202413.205106967787922.9286806155522

In Q1 of 2024, 63.5% of total Compensation of Employees came from domestic enterprises, with 36.5% coming from foreign enterprises.

Foreign enterprises are identified by using institutional sector codes which are outlined in The European System of Accounts. Institutional units are any unit that has autonomy of decision and/or a complete set of accounts. Foreign controlled enterprises are any unit with the following institutional sector code: S.11003, S.12203, S.12303, S.12403, S.12503, S.12603, S.12703, S.12803 and S.12903. The foreign/domestic split is calculated using PMOD company level data.

Column1Q1 2024Q1 2023
Public Admin, Education and Health700.1566928677.788710025
Distribution, Transport, Hotels and Restaurants555.3099236552.5189070956
Industry (excl. Construction)305.7153853313.2224603878
Professional, Admin and Support Services254.5752681232.7556443103
Information and Communication156.852606156.0109058966
Construction120.5113631115.8076535836
Financial and Insurance Activities117.3447384119.4782535906
Arts, Entertainment and Other Services91.42702882.8451490044
Agriculture Forestry and Fishing26.495141726.2343843182
Real Estate Activities26.49514177.9420547809
Table 7.2 Compensation of Employees1 by Nace Rev. 2 A10 Sector2 of Origin at Constant Market Prices (Chain linked annually and referenced to year 2021)

Table 7.3 Compensation of Employees1 by Nace Rev. 2 A10 Sector of Origin at Constant Market Prices - Seasonally Adjusted (Chain linked annually and referenced to year 2021)

Please note: Table 7.4 was updated on 7 June 2024 to rectify an error in the percentage changes for the 2023 quarters. There were no changes to the underlying figures, all other values remain as published on 6 June 2024.

Table 7.4 Compensation of Employees1 by Nace Rev. 2 A10 Sector2 of Origin at Current Market Prices

Table 7.5 Compensation of Employees1 by Nace Rev. 2 A10 Sector2 of Origin at Current Market Prices - Seasonally Adjusted

Table 7.6 Breakdown of Compensation of Employees by Foreign and Domestic Enterprises

Table 7.7 Total number of Employees1 by Nace Rev. 2 A10 Sector2