Nominal wages

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Nominal Pay - the total amount of remuneration received by the employee at a specified time (usually monthly). The amount of nominal wage earned is affected by many factors including, but not limited to:

The change in nominal wage alone does not provide a sufficient basis for assessing whether an employee's situation has improved or deteriorated. It may turn out that nominal wage growth is lower than inflation - and this will mean that for higher wages an employee will buy less goods and services than before a raise. In order to properly assess the impact of salary change on the purchasing power of employees, it is necessary to use real pay. Bibliography

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