Database Specific
Database Specific Abstract AbstractReal hourly and annual minimum wages
Data Characteristics Data Characteristics Date last updated Date last updatedData updated 30 October 2023.
Unit of measure used Unit of measure used Concepts & Classifications Concepts & Classifications Aggregation & consolidation Aggregation & consolidationReal hourly and annual minimum wages are calculated first by deflating the series using the consumer price index taking 2022 as the base year. The series are then converted into a common currency unit (USD) using Purchasing Power Parities (PPPs) for private consumption expenditures in 2022.
Key statistical concept Key statistical conceptReal hourly and annual minimum wages are statutory minimum wages converted into a common hourly and annual pay period for the 30 OECD countries and six non-member countries for which they are available. The resulting estimates are deflated by national Consumer Price Indices (CPI). The data are then converted into a common currency unit using either US $ current exchange rates or US $ Purchasing Power Parities (PPPs) for private consumption expenditures.
Real hourly and annual minimum wages
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Data updated 30 October 2023.
Real hourly and annual minimum wages are statutory minimum wages converted into a common hourly and annual pay period for the 30 OECD countries and six non-member countries for which they are available. The resulting estimates are deflated by national Consumer Price Indices (CPI). The data are then converted into a common currency unit using either US $ current exchange rates or US $ Purchasing Power Parities (PPPs) for private consumption expenditures.
Real hourly and annual minimum wages are calculated first by deflating the series using the consumer price index taking 2022 as the base year. The series are then converted into a common currency unit (USD) using Purchasing Power Parities (PPPs) for private consumption expenditures in 2022.