The Central Bank of Peru published labour market data showing that the formal-sector wage bill, measured in real terms, increased by 6.2% year on year in January 2026. The rise was mainly driven by a 3.9% increase in formal jobs based on electronic payroll data. The private-sector formal wage bill grew 6.5% year on year in real terms, supported primarily by stronger momentum in services and mining, extending an improvement streak to 22 consecutive months. On the same measure, total formal wage bill growth eased from 6.9% in December 2025 to 6.2% in January 2026, while the private-sector series rose from 6.1% to 6.5%; the wage bill is calculated as average income multiplied by the total number of formal jobs.
Central Bank of Peru 2026-03-26
Central Bank of Peru reports real formal wage bill up 6.2% in January 2026
The Central Bank of Peru reported a 6.2% year-on-year increase in the formal-sector wage bill in January 2026, driven by a 3.9% rise in formal jobs. The private-sector wage bill grew by 6.5%, with notable contributions from services and mining, marking 22 months of continuous improvement.