Reference Value Report: Living Wage Report and 2024 Update for Rural El Salvador
2024 Reference Value Update Report: Living Wage Report for Rural El Salvador
Abstract
This report updates the Anker Living Wage Reference Value for rural El Salvador to 2024. The updated Anker Gross Living Wage for 2024 is USD 4132 per month, comprised of a Net Living Wage of USD 370, plus social security contributions of USD 42. The Gross Living Wage was USD 355 for 2020 in the original Reference Value report,3 comprised of a Net Living Wage of 318 USD plus a social security contribution of USD 36. Inflation in this period was 16.4%4. Without accounting for inflation, the Living Wage estimated in 2020 would not be sufficient for families to afford a basic but decent standard of living in 2024, because the purchasing power of the living wage would have decreased. Social security contributions and income tax were calculated using tax laws in force in June 2024.
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Original Report
2020 Reference Value Report: Living Wage Report for Rural El Salvador
Abstract
The Anker Living Wage Reference Value for 2020 for rural El Salvador is USD 355 (SVC 3,136)2 per month with a 95% confidence around it from USD 326 to USD 386 (SVC 2,883 to SVC 3,412). This is the wage required for rural workers to be able to afford a basic but decent living standard in a typical rural area of El Salvador. The Reference Value is comprised of a net living wage (i.e. take-home pay) of USD 318 (SVC 2,815) per month plus an estimated USD 36 (SVC 321) which would need to be paid by law as contribution to State Welfare Fund and in private pension on the living wage (LW).
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