Living Wage Update Report: Rural Guatemala, central departments (June 2021)
Lykke E. Andersen, Alejandra Gonzales, Richard Anker, Martha Anker
Abstract
Open-access reader
Lykke E. Andersen, Alejandra Gonzales, Richard Anker, Martha Anker
Abstract
Open-access reader
This report updates the living wage and living expenses for the Central Departments of Guatemala. The net living wage and living expenses are updated to June 2021 (which can be considered the average for the year 2021) to take into account the amount of inflation since the original September 2016 living wage study. Without accounting for inflation, the net living wage estimated in 2016 would not be sufficient for workers to have a basic but decent standard of living in June 2021 because the purchasing power of the living wage would have decreased compared to what it was in 2016. Similarly, living expenses for a reference family are also updated to June 2021 to account for inflation.
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This report updates the living wage and living expenses for the Central Departments of Guatemala. The net living wage and living expenses are updated to June 2021 (which can be considered the average for the year 2021) to take into account the amount of inflation since the original September 2016 living wage study. Without accounting for inflation, the net living wage estimated in 2016 would not be sufficient for workers to have a basic but decent standard of living in June 2021 because the purchasing power of the living wage would have decreased compared to what it was in 2016. Similarly, living expenses for a reference family are also updated to June 2021 to account for inflation.
Key concepts: Living wage, Standard of living, Purchasing power, Cost of living, Wage, Inflation (cosmology), Economics, Minimum wage