The country’s private sector employees have experienced a steep loss in purchasing power since 2009, according to a study by Macros Consulting. An employee who earned a monthly salary of RD$35,000 in 2009, should have, according to the inflation in the marketplace until now, RD$43,595 and if the salary was RD$12,250, the same worker should be earning RD$15,258. The Macros Consulting Bulletin covers the period from November 2012 until March 2013 and also stressed that only 20% of the 228 companies surveyed reported salary increases for their personnel during this period. This percentage was less than the year before when the number was 24% of the sample.
The causes of the increases were: 24% for adjustments, 25% for several reasons, 33% for performance and 27% for inflation. “The average salary increase of the general market was of 9% with a minimum of 5% reported and a maximum of 19%. The percentage of the most frequent increase was 10%, reported by 34% of the sample, and the average was 9%,” indicated the bulletin. Only 42% of the companies surveyed are planning on giving out salary increases in 2013. Of this percentage, 37% will do this in the second quarter, 17% in the third quarter, 20% in the fourth quarter and the remaining 26% have not set a definite date.