Wage Price Index

The wage price index (WPI) is a price index which measures changes over time in wages and salaries for employee jobs, unaffected by changes in the quality or quantity of work performed.

Wage Price Index Chart

Price development

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WAGE PRICE INDEX OVERVIEW

Wage Price Index

The wage price index (WPI) is a price index which measures changes over time in wages and salaries for employee jobs, This index calculation excluded the factors like quantity or quality of work, changes in characteristics of employees (e.g. work performance).

Employees typically see their paychecks broken down into two parts, the wages and benefits. Wages track the amount employers pay in salaries and hourly labor, and benefits include a combination of health insurance, retirement plans, paid time-offs.

Employers use the index to evaluate the labor market and the amount of raises they can doll out each quarter.

Wage Price Index Development

WCI Industry total
No change in price in Dec 2020 compared to Nov 2020
Increased by 2.84% in Dec 2020 compared to Dec 2019

WCI Manufactur. industry
No change in price in Dec 2020 compared to Nov 2020
Increased by 2.75% in Dec 2020 compared to Dec 2019