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LON01030 Wages (expenditure) by institutional sector, age and month (1985M01-2024M12)

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Maria Heen
1/13/2025
DDK
M
2/13/2025
1/1/2000
Yes
Statistics Faroe Islands: www.hagstova.fo/en
LON01030_UL_ALD_MD
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 -  Nil (exactly zero)
 0  Rounded to zero
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 ••• Not disclosed, confidentiality/privacy protected Wage:
Wage as a statistical concept is part of the wider definition of compensation of employees. Compensation is divided into
a) wages and salaries and
b) employers' social contributions.
The definitions and terms used here are based on the guidelines provided in the 'System of National Accounts' (SNA) by the United Nations and the 'European System of Accounts' (ESA) by Eurostat.
According to this definition wages and salaries in cash include components such as basic wage, enhanced payments, overtime, holiday pay and employment benefits. Employers' social contributions, such as pension, unemployment insurance and parental leave pay are not included.
The wage statistics are based on wages in cash paid by an employer to an employee through the pay-as-you-earn (PAYE) tax system. Thus the wage statistics only include A-taxed wages (taxes are deducted directly from income) from employers that are economically active in the Faroe Islands. All wages that meet these conditions are included no matter the employee's country of residence.
Wages count for each employer. Thus if a person has three different employers they receive three wages. Multiple wages from the same employer are grouped together into one.

institutional sector

Institutional sectors are the sorting of institutional entities by economic activity. The economic activity is determined by whether the goods and services produced are for the market, whether the ownership is public or private, as well as the type of production. The definitions and terms used are based on the guidelines provided in the 'System of National Accounts' (SNA) by the United Nations and the 'European System of Accounts' (ESA) by Eurostat. In the wage and employment statistics the institutional sectors are grouped differently than normal. Non-financial corporations, finacial corporations, households and organizations are grouped together and divided by whether the ownership is public, private or foreign. Public administration and services is unchanged and is divided in to central government, state government, local government and social security funds.