Reference Value Report: Living Wage and 2024 Update for Rural Honduras
2024 Reference Value Update Report: Living Wage Report for Rural Honduras
Abstract
This report updates the Anker Living Wage Reference Value for rural Honduras to 2024. This was HNL 6,852 (USD 277) for 2020 in the original report2, comprised of a Net Living Wage of NHL 6,304 (USD 255), plus a social security contribution of HNL 548 (USD 22). The updated Anker Gross Living Wage for 2024 is HNL 8,168 (USD 329) per month, comprised of a Net Living Wage of HNL 7,882 (USD 317), plus social security contribution of HNL 286 (USD 12). Note that because social housing fund contributions are now optional, they are not taken into account. Inflation in this period was 25.0%3. 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. Social security contributions were calculated using the most up-to-date tax laws.
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Original Report
2020 Reference Value Report: Living Wage Report for Rural Honduras
Abstract
The Anker Living Wage Reference Value for 2020 for rural Honduras is HNL 6,852 (USD 277) per month with a 95% confidence around it from HNL 6,346 to HNL 7,399. 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 Honduras. The Reference Value is comprised of a net living wage (i.e. take-home pay) of HNL 6,304 (USD 255) per month and plus an estimated HNL 548 (USD 22) which would need to be paid by law as contribution to State Welfare Fund and in private pension on the living wage.
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