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Real wage stands 5 times lower than nominal wage

ZGM DAILY
2019-03-15 17:08 GMT+8

According to statistics, the real wage has increased five times less than the nominal wage in the last eight years.

Employees' monthly nominal salary was tripled in the fourth quarter of 2018 compared to the fourth quarter of 2010. Nevertheless, the real wage, which shows the purchasing ability, was up by 61 percent; however, the amount is five times lower than in 2010.

Experts concluded that purchasing power is not increasing enough. According to the corporate types of liabilities, the wage of state-owned enterprises was the highest in the fourth quarter of 2018 at MNT 1.3 million. The average salary of joint stock com­ panies and limited liability com­ panies stands about MNT 1.2-1.3 million.

However, the salary of public servants averaged at MNT 901.9 thousand and non-governmental workers’ was MNT 885.1 thousand, which is lower than the rest. In general, the average monthly salary totaled MNT 1.1 million and the median salary was averaged at MNT 806,000.

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