Private-Sector Salaries Increased 3% in 2003

March 26, 2004

BETWEEN January and December 2003, the average salary of private sector employees increased 3% in real terms (taking into account the effects of the colón’s daily devaluation), according to the Social Security System (Caja) statistics.

Average monthly salaries rose from ¢142,708 at the end of 2002 ($395.40 at the time) to ¢160,914 at the end of 2003 ($402.56 at the time).

By law, all employers are required to register their employees with Caja and transfer a portion of their salaries to the institution in the form of mandatory social security dues. This makes Caja’s figures a valid indicator of formal jobs. It does not, however, include the increasing number of informal and independently employed workers.

Last year, the total number of formal jobs increased 2.2% from 548,253 at the end of 2002 to 560,309 at the end of 2003. A total of 12,056 jobs were created, according to Caja.

 

Facebook Comments

You may be interested

PeaceJam to host first Youth Summit in Costa Rica
Peace Talks
574 views
Peace Talks
574 views

PeaceJam to host first Youth Summit in Costa Rica

Alejandro Zúñiga - October 19, 2018

Nobel Peace Laureate Jody Williams will headline the first PeaceJam Youth Summit in Costa Rica next month. The event, scheduled…

The energy of sound
Pic of the Day
597 views
Pic of the Day
597 views

The energy of sound

Alissa Grosskopf - October 19, 2018

“Sound is vibration, vibration is energy and that energy is light,” said Costa Rican musician Carlos "Tapado" Vargas. Apart from…

Human rights defender Alvaro Leiva: ‘There is a permanent darkness in Nicaragua’
Nicaragua
1007 views
Nicaragua
1007 views

Human rights defender Alvaro Leiva: ‘There is a permanent darkness in Nicaragua’

Katherine Stanley - October 19, 2018

When Alvaro Leiva took the stage at a recent fundraiser for Nicaraguan refugees and immigrants in Costa Rica, all eyes…