Labour hoarding indicators - monthly data

Labour hoarding is defined as “that part of labour input which is not fully utilised by a company during its production process at any given time”, implying under-utilisation of the workforce. It typically occurs in periods of slack or downturn of economic activity.

The rationale for companies not to lay off employees in such periods is that 1) dismissing workers usually involves costs, and 2) recruiting workers once economic activity recovers also entails costs.