He Average Salary Index (IMS) published monthly by INE reflected a recovery of real salary which reached 4.01% during 2023, as well as a recovery of retirements and pensions of the Uruguayan citizens.
According to the INE, the final adjustment of the retirements and pensions It will be 8.68%, while in December a provisional adjustment of 8.39% had been agreed to be paid in February and corresponds to the passivity of the month of January. Meanwhile, the difference between the provisional adjustment and the final payment, which consists of 0.29 percentage points, will be included in the month of March, corresponding to the February payment.
For their part, the retirements and pensions Minimum prices will have a final increase of 5.51%, taking into account that an advance of 3% was granted during the month of January. In this way, the pension adjustment will be above the inflation perceived during the previous year, which was a total of 5.11%, for the second consecutive year.
The adjustment of pensions is defined from the Average Nominal Wage Index (IMSN), which obtained an increase of 8.68% and corresponds perfectly to what will be increased in the coming months.
What happened to salaries?
The recovery of real wages reached 4.01% during 2023, while the IMS It reflected an increase of 9.32% over the last year. Meanwhile, the Average Nominal Wage Index (IMSN) closed with an increase of 8.68%, so that both indicators were above the inflation, which was 5.11%.
In that context, the public sector achieved a nominal improvement of 9.56% and improved its real salary by 4.23%, exceeding the variation of the private sphere, where nominal growth was 9.19% and real recovery was 3.88%.
When investigating the different areas of the private sector, at a time when the wage bill is growing in the country, the INE revealed that the one that obtained the greatest salary variation was that of the Real estate activities, business and rental, with a nominal increase of 10.02% in 2023 and a real improvement of 4.7%.
Behind were the Construction, with a nominal increase of 9.98%; Teaching (9.86%); Transport, storage and communications (9.75%); Manufacturing industries (9.36%); social services and health (8.89%), Hotels and restaurants (8.86%); Trade (8.50%); and Financial intermediation (8.25%).
Source: Ambito
