Uruguay - Real Wages & Salaries
Uruguay: Real Wages & Salaries
| Mnemonic | YPEWS$.IURY | |
|---|---|---|
| Unit | 2008=100, NSA | |
| Adjustments | Not Seasonally Adjusted | |
| Monthly | 5.15 % | |
| Data | Jan 2023 | 432.1 |
| Dec 2022 | 410.95 | |
Series Information
| Source | National Institute of Statistics (INE) |
| Release | Compensation |
| Frequency | Monthly |
| Start Date | 1/31/1968 |
| End Date | 1/31/2023 |
Uruguay: Labor
| Reference | Last | Previous | Units | Frequency | |
|---|---|---|---|---|---|
| Real Wages & Salaries | Jan 2023 | 432.1 | 410.95 | 2008=100, NSA | Monthly |
| Unemployment | Dec 2020 | 186,856 | 193,974 | #, NSA | Monthly |
| Unemployment Rate | Jan 2020 | 8.91 | 8.74 | %, NSA | Monthly |
Release Information
The National Institute of Statistics (INE) reports nominal and real wage index monthly. Figures are indexed 2008 = 100 and are both seasonally adjusted (SA) and not seasonally adjusted (NSA).
Average Salary Index (IMS) was established by Law No. 13,728 in December 1968. The purpose of the index is to estimate the progression of current earnings of permanent employees in the public and private sectors.
The Nominal Wage Index Middle (IMSN) was established by Law No. 17649 in June 2003. IMSN is used to adjust pension payments according to provisions added to the Constitution of Uruguay (art. 67). Worker discounts such as contributions to Social Security, FONASA, Retraining Fund, and individual Income Tax are deducted. Such indexation ensures that a worker's future benefits reflect the increase in standards of living throughout their life time.
A sampling survey directed at companies and institutions within both sectors (Public and Private) is used for the periodic calculation of the indexes.
In the private sector, 800 companies are sampled with more than 3,700 categories of workers. Industries of the sampled companies include manufacturing, construction, wholesale and retail, hotels and restaurants, transportation, storage and communications, financial intermediation, real estate, business and rental, teaching, and social and health services.
The IMS index is based on variations in the average net salary of workers in specific labor categories.
Data is subject to revisions. The base year advanced from December 2002 = 100 to July 2008 = 100.
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