Legal Minimum Wages and the Wages of Formal and Informal Sector Workers in Costa Rica



Table 1: Macroeconomic Statistics, Costa Rica 1988-1999

Year

Mean Real Hourly
Minimum Wage1
(1999 CR colones)

Mean Real Hourly
Wage1

(1999 CR colones)

Real GDP
Growth
Rate2

Inflation Rate
(% change in CPI
July to July)2

1988

248

359

3.4

207

1989

254

368

5.7

16.9

1990

249

360

3.6

19.8

1991

254

349

2.3

29.7

1992

263

351

7.7

21.1

1993

259

408

6.3

9.9

1994

249

434

4.9

11.8

1995

258

417

4.0

23.2

1996

282

401

0.3

18.7

1997

300

412

5.8

13.3

1998

309

430

8.0

11.7

1999

320

461

8.0

9.1

1 Source: Costa Rican Household Survey, using sample weights.

2 Source: the Costa Rican National Income Accounts.

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