Labour Component definition

Labour Component means the portion of Annual Price assumed to represent labour costs and will be measured using the annual average of the Fixed-weighted Index of Average Hourly Earnings for all employees (SEPH), excluding overtime, unadjusted for seasonal variation, for selected industries classified under the North American Industry Classification System (NAICS); British Columbia; Industrial Aggregate excluding unclassified businesses available from the Statistics Canada table No. 14-10-0213-01 in respect of a calendar year ("SEPH Table"), or, if not available, such other similar wage index selected by the Province. The Province will calculate the year over year percentage change for the Labour Component of the Price Adjustment Factor utilizing the annually released Statistics Canada SEPH Tables for each Contract Year;
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Labour Component means the portion of the Annual Price assumed to represent labour costs, measured using the Annual Average of the Fixed-weighted Index of Average Hourly Earnings for all employees (SEPH), excluding overtime, unadjusted for seasonal variation, for selected industries classified under the North American Industry Classification System (NAICS); British Columbia; Industrial Aggregate excluding unclassified businesses available from the CANSIM database and made available by Statistics Canada in Table 281-0039 in respect of a calendar year, or, if not available, such other similar wage index selected by the Province after consultation with B.C. Road Builders and Heavy Construction Association. The Province, upon its annual receipt of Statistics Canada's letter of the revised official statistics for Table 281-0039, shall calculate the year over year percentage change for the Labour Component of the Price Adjustment Factor, using the data from the preceding 2 calendar years pursuant to the sample calculation in Appendix C of this Schedule;‌
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Examples of Labour Component in a sentence

  • There will be additional increases at the same percentage of the Labour Component of the Annual Price Adjustment on each of July 8, 2014, July 8, 2015, July 8, 2016, July 8, 2017 and July 8, 2018.

  • It is understood that the Labour Component of the Annual Price Adjustment (COLA) will follow Schedule 2 of the Ministry of Transportation Maintenance Agreement and the Notice of Clarification and Acknowledgement of Agreement dated June 7, 2007.

  • There will be additional increases at the same percentage of the Labour Component of the Annual Price Adjustment on each of June 28, 2014, June 28, 2015, June 28, 2016, June 28, 2017 and June 28, 2018.

  • Formula for Labour Component : V1 = 0.85 P x K1 x L1 - Lo 100 Lo Where, V1 = Amount of price variation in Rupees to be Allowed for Labour component.

  • Effective August 16, 2017 the Isolation Allowances will be increased by the Labour Component of the Annual Price Adjustment.

  • Effective August 16, 2020 the Training Allowance will be increased by the Labour Component of the Annual Price Adjustment.

  • Effective August 16, 2018 the Vehicle Allowance will be increased by the Labour Component of the Annual Price Adjustment.

  • Effective August 16, 2020 the Vehicle Allowance will be increased by the Labour Component of the Annual Price Adjustment.

  • Effective August 16, 2014 the Foot Wear Allowance will be increased by the Labour Component of the Annual Price Adjustment.

  • In addition there will be increases at the same percentage of the Labour Component of the Annual Price Adjustment on each of June 28, 2014, June 28, 2015, June 28, 2016, June 28, 2017 and June 28, 2018.

Related to Labour Component

  • Accrual Components As specified in the Preliminary Statement.

  • Index Component means those securities, assets or reference values of which the Index is comprised from time to time.

  • Structural component means a component that supports non-variable forces or weights (dead loads) and variable forces or weights (live loads).

  • Corrective Measure means a measure as defined in Article 3, point 16, of Regulation (EU) 2019/1020;

  • Biomarker testing means the analysis of an Insured’s tissue, blood, or other biospecimen for the presence of a Biomarker. "Biomarker testing" includes but is not limited to single-analyte tests, multi-plex panel tests, protein expression, whole exome, whole genome, and whole transcriptome sequencing.