The Central Bank of Peru published labour market indicators showing that the formal wage bill, measured in real terms, increased by 6.9% year on year in December 2025. The rise was attributed to sustained growth in formal employment, with the number of jobs up 4.1% based on electronic payroll data. The private-sector wage bill grew 6.1% in real terms year on year, supported mainly by stronger momentum in services and commerce, extending a run of 21 consecutive months of improvement. The central bank defined the wage bill as average income multiplied by the total number of formal jobs.
Central Bank of Peru 2026-02-21
Central Bank of Peru reports formal wage bill rose 6.9% in real terms in December 2025
The Central Bank of Peru reported a 6.9% year-on-year increase in the formal wage bill in December 2025, driven by a 4.1% rise in formal employment. The private-sector wage bill grew 6.1%, with notable gains in services and commerce sectors.