The Central Bank of Peru published updated labour market indicators showing that Peru’s total formal wage bill increased 7.4% in real terms in July 2025 compared with July 2024, supported by continued growth in formal employment based on electronic payroll data. In the private sector, the formal wage bill rose 7.6% in real year-on-year terms in July, driven mainly by activity in services and commerce, marking 16 consecutive months of improvement. The bank noted that the wage bill reflects average income multiplied by the number of formal jobs.
Central Bank of Peru 2025-09-18
Central Bank of Peru reports formal wage bill rose 7.4% in real terms in July 2025
The Central Bank of Peru reported a 7.4% real-term increase in the total formal wage bill in July 2025 compared to July 2024, driven by growth in formal employment. The private sector saw a 7.6% rise, primarily due to services and commerce, marking 16 consecutive months of improvement. The wage bill is calculated as average income multiplied by the number of formal jobs.