He real salary increased 4.8% year-on-year in September if the inflation of that period, according to data from the Statistics National Institute (INE), despite the fact that it accumulated a monthly decline of almost 0.5%, placing it 1% above the pre-pandemic level.
This arises from the Average Salary Index (IMS) prepared by the INE, which reflected that the real salary increased by 4.10% so far this year, driven by improvements in Salary Tips and the decline of CPI towards the lower part of the target range established by the Central Bank of Uruguay (BCU).
For his part, the Average Nominal Wage Index (IMSN) in September represented an increase of 0.16%, which took that number to 7.75% accumulated during 2023 and 8.21% in the last 12 months.
Meanwhile, the private sector increased by 0.33%, mainly driven by the Financial Intermediation (0.11%), Manufacturing Industry (0.08%) and Transportation, Storage and Communications (0.07%) items.
At the same time, in the area public, fell 0.09%, a decrease caused mainly by the Central Government (0.15%), Public Companies (0.04%) and Departmental Government (0.02%) sections.
How did each area fare?
If analyzed by each labor section, the INE reflected that the largest salary increase in the last 12 months was for Social Services and Health (10.4%), followed by Construction (9.95%) and Hotels and Restaurants (9.87%), completing the podium.
They were further behind Real estate activities business and rental, with an improvement of 8.87%, Manufacturing industries (8.32%), Transport, storage and communications (7.7%), Trade wholesale and retail (7.10%), Financial intermediation (7.03%) and Teaching (6.79%).
With respect to the public sector, the wages in the Central Government they had an increase of 10.50% since August 2022, while those of public companies advanced to 9.24% and those of the departmental governments reached a positive variation of 7.62%.
Source: Ambito
