In August 2026, total formal employment nationwide increased by 4.9%, resulting in the addition of 302,000 jobs compared to August 2025, the Central Reserve Bank of Peru (BCRP) reported.
Furthermore, the bank noted that this result indicates the growth rate of formal employment has surpassed the levels observed over the previous 11 months.
In the private sector, formal jobs increased by 6.6% compared to August of the previous year—an improvement over the 6.1% growth recorded in July.
Most dynamic sectors
This outcome is primarily driven by increased employment in the services, agricultural, and commerce sectors.
Specifically, the services, agricultural, and commerce sectors accounted for the largest number of new jobs during the month, adding 103,000, 95,000, and 51,000 positions, respectively, according to the BCRP.
The central bank also highlighted the dynamism of the agricultural sector, where employment grew by 16.6% year-on-year. Meanwhile, the mining sector saw an expansion of 11.4%, although its contribution in absolute terms was more modest (16,000 jobs). Formal Wage Bill
The formal wage bill—representing the total value of earnings received by workers—recorded a 3.1% increase in real terms in August 2026, compared to the same month in 2025.
According to the Central Reserve Bank (BCR), this result is primarily driven by a sustained increase in the number of jobs, as reflected in electronic payroll records.
29-Month period of improvement
In August, the private sector wage bill saw a 3% year-on-year increase in real terms. This growth was largely supported by stronger momentum in the services and commerce sectors. This rate of expansion marks 29 consecutive months of improvement.
In the labor context, the wage bill is calculated by multiplying the average income by the total number of formal jobs.
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(END) NDP/MDV
Published: 10/30/2026