Reference Value Report: Living Wage and 2024 Update for Non-Metropolitan Urban Chile
This report updates the Anker Living Wage Reference Value for non-metropolitan urban Chile to 2024. This was CLP 623,057 (USD 751) for 2020 in the original report, comprised of a Net Living Wage of CLP 513,399 (USD 619), plus a social security contribution of CLP 109,658 (USD 132). The updated Anker Gross Living Wage for 2024 is CLP 811,442 (USD 877) per month, comprised of a Net living Wage of CLP 668,628 (USD 722), plus CLP 142,814 (USD 154) in mandatory pay deductions which would need to be paid by law as a contribution to the state health fund (7.0%), unemployment insurance (0.6%), and pension contribution (10.0%). Inflation in this period was 30.2%. Without accounting for inflation, the Living Wage estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Wage would have decreased. Mandatory deductions were calculated using laws in force in June 2024.
2024 Reference Value Update Report: Living Wage Report for Non-Metropolitan Urban Chile
Abstract
This report updates the Anker Living Wage Reference Value for non-metropolitan urban Chile to 2024. This was CLP 623,057 (USD 751) for 2020 in the original report, comprised of a Net Living Wage of CLP 513,399 (USD 619), plus a social security contribution of CLP 109,658 (USD 132). The updated Anker Gross Living Wage for 2024 is CLP 811,442 (USD 877) per month, comprised of a Net living Wage of CLP 668,628 (USD 722), plus CLP 142,814 (USD 154) in mandatory pay deductions which would need to be paid by law as a contribution to the state health fund (7.0%), unemployment insurance (0.6%), and pension contribution (10.0%). Inflation in this period was 30.2%. Without accounting for inflation, the Living Wage estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Wage would have decreased. Mandatory deductions were calculated using laws in force in June 2024.
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Original Report
2020 Reference Value Report: Living Wage Report for Non-Metropolitan Urban Chile
Abstract
The Anker Living Wage Reference Value for 2020 for non-metropolitan urban Chile is CLP 623,057 (USD 751)2 per month with a 95% confidence around it from CLP 550,039 to CLP 705,777 (USD 663 to 851). This is comprised of the net living wage, or take-home pay, of CLP 513,399 (619 USD) required for workers living in non-metropolitan urban locations to be able to afford a basic but decent living standard in a typical non-metropolitan urban area of Chile, plus CLP 109,658 (USD 132) in mandatory payroll deductions on a living wage of 17.6%, which would need to be paid by law as contributions to the state health fund (7.0%) and unemployment insurance fund (0.6%), and in private pension contributions (10.0%).
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