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| Definition: |
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Real wages are defined as the goods and services which can be purchased with wages or are provided as wages.
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| Context: |
Statistics of real wages are not primary statistics. They result from the combination of two types of primary statistics – wages and prices. The information required for the computation of real wages includes:
(a) a wage measure expressed in monetary terms;
(b) a series of prices of goods and services commonly purchased by the employees; and
(c) information on the consumption pattern of employees (Key Indicators of the Labour Market (KILM): 2001-2002, International Labour Organisation, Geneva, 2002, page 483).
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| Source
Publication: |
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Resolution concerning the international comparison of real wages, adopted by the 8th International Conference of Labour Statisticians, Geneva, 1954.
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| Statistical
Theme: Labour statistics |
| Created
on Thursday, August 8, 2002 |
| Last
updated on Wednesday, March 12, 2003 |
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