Private-Sector Salaries Increased 3% in 2003
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.
You may be interested
Unemployment and underemployment rates remain high in Costa RicaAlejandro Zúñiga - December 3, 2020
Unemployment in Costa Rica was 21.9% in the August-October quarter, slightly lower than the previous period but still significantly higher than the…
Saprissa, Alajuelense qualify for Champions LeagueThe Tico Times - December 3, 2020
Costa Rica's two most-popular soccer clubs will represent the country at the 2021 CONCACAF Champions League. Deportivo Saprissa and Liga…
CCSS conducts ‘mega transfer’ of COVID patients from full hospitalAlejandro Zúñiga - December 3, 2020
The Costa Rican Social Security System (CCSS) on Wednesday conducted a large-scale transfer of coronavirus patients from a saturated Escalante Pradilla…