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Commission Regulation (EC) No 224/2007Show full title
Commission Regulation (EC) No 224/2007 of 1 March 2007 amending Regulation (EC) No 1216/2003 as regards the economic activities covered by the labour cost index (Text with EEA relevance)
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Commission Regulation (EC) No 224/2007
of 1 March 2007
amending Regulation (EC) No 1216/2003 as regards the economic activities covered by the labour cost index
(Text with EEA relevance)
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Community,
Having regard to Regulation (EC) No 450/2003 of the European Parliament and of the Council of 27 February 2003 concerning the labour cost index(1), and in particular Article 11 thereof,
Whereas:
(1) A range of statistics, of which labour cost indices form an essential part, is relevant for monitoring wage developments and inflationary pressures emanating from the labour market.
(2) The scope of the labour cost index should be extended to cover the economic activities defined by NACE Rev. 1 sections L, M, N and O. This extension means that non-market services, which account for the major share of these sections and which may have different dynamics from market services, will also be covered.
(3) The feasibility studies carried out in accordance with Article 10 of Regulation (EC) No 450/2003 show that extending the scope of the labour cost index to include the economic activities defined by NACE Rev. 1 sections L, M, N and O is feasible and that the amount of work and the costs which the extension of the labour cost index will require is in proportion to the importance of the results and benefits.
(4) The feasibility studies also show that a flexible implementation schedule will reduce implementation costs for those Member States which do not yet collect the basic data or produce the indices covered by this extension.
(5) Seasonal adjustment methods produce statistically reliable results only if the time series is sufficiently long. Seasonally adjusted series should therefore be produced and transmitted for the first time when four years of data are available.
(6) The index reference year is the year in which the average of the index is set at 100. The first index reference year is defined in Commission Regulation (EC) No 1216/2003 of 7 July 2003 implementing Regulation (EC) No 450/2003 of the European Parliament and of the Council concerning the labour costs index(2) as the year 2000. Indices for NACE Rev. 1 sections L, M, N and O may not be available for the year 2000 and an alternative index reference should be defined.
(7) Regulation (EC) No 1216/2003 should therefore be amended accordingly.
(8) The measures provided for in this Regulation are in accordance with the opinion of the Statistical Programme Committee,
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