Measuring the Cost of Salaried Labor in Latin America and the Caribbean
This paper presents new data documenting the cost of salaried labor in 20 Latin American and Caribbean countries. We gather data on the three main costs associated to hiring salaried labor; (i) minimum wages and other monetary benefits, (ii) mandated contributions for social insurance and other benefits and (iii) job security provisions. We present two new indicators. First, we calculate the average non-wage cost of salaried labor (NWC).