The Central Bank of Peru published labour market data showing the formal wage bill grew 8.4% in real terms in August 2025 compared with August 2024, driven primarily by continued growth in formal employment. Electronic payroll records show formal jobs increased 5.2% year on year in August. The private sector formal wage bill rose 10.4% in real terms, mainly reflecting stronger momentum in services and agriculture, extending the improvement to seventeen consecutive months. The central bank defined the wage bill as the product of average income and the total number of formal jobs.
Central Bank of Peru 2025-10-13
Central Bank of Peru reports formal wage bill rose 8.4% in real terms in August 2025
The Central Bank of Peru reported an 8.4% real-term growth in the formal wage bill for August 2025 compared to August 2024, driven by a 5.2% increase in formal employment. The private sector wage bill rose 10.4%, with significant contributions from services and agriculture. This marks the seventeenth consecutive month of improvement.