The wage bill is a key indicator in the labor sector that results from the product of the average income by the total number of formal jobs.
The formal wage bill – the total value of income received by workers – increased by 10.2% in May compared to the same month of the previous year, an expansion that is the highest since the 10.4% of September 2022.
This improvement was due to an increase in jobs and higher wages, according to information from the electronic payroll.
In the private sector, wages increased by 10% year-on-year in May, mainly due to the dynamics of the services, mining and manufacturing sectors.
The wage bill is a key indicator in the labor sector that results from the product of the average income by the total number of formal jobs.
INEI: only 3.1 million Peruvians have adequate employment
In the rolling quarter of April, May and June of this year, the population with adequate employment reached 3,151,300 Peruvians, thus representing 53.9% of the total economically active population in Metropolitan Lima, according to the National Institute of Statistics and Informatics (INEI).
Along these lines, the population with adequate employment increased by 5% (149,800) compared to the same period in 2023. Meanwhile, compared to the moving quarter of April, May and June 2019, there was no significant variation, with only 500 more Peruvians joining the formal market.
Source: Larepublica
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