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LON01025 Wages (expenditure) by institutional sector, main activity, employee's region of residence and month (1985M01-2024M12)

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Maria Heen
1/13/2025
DKK
M
2/13/2025
1/1/2000
Yes
Statistics Faroe Islands: www.hagstova.fo/en
LON01025_UL_OKI_MD
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Wage: Wage as statistical concept is part of the wider definition of compensation of employees. Compensation is divided in to
a) wages and salaries and
b) employers' social contributions. Wage as concept does therefore not include employers' social contributions, such as pension. Wage to employees can be in cash or in kind, paid by an employer to an employee in return for work during an accounting period.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.
The wage expenditure 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 expenditure 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.

employee's region of residence

The region in which the employee lives.

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 expenditure 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. 'The Rest of the World' is a separate institutional sector, which is not part of the wage expenditure statistics, as it only entail the national economy.

employee's activity

A person can earn wages from several employers across several main acitivities. The main acitivity of an employee is set to be the main economic activity of the employer from which the largest wage is received. Oher economic activities, from which wages are received are registered as minor acitivities.

employer's main activity

Main activity is attached to the employer that pays the wage. An employer is grouped in to the main activity in which he has the largest activity. A person may have several employers, and the employer from which the most wage is paid is set to be the person's main activity of work. Main activity is not necessarily the actual economic activity of the work done for the wages paid as an employer may cover several economic activities. Main activity is based on the international statistical classification of economic activities NACE rev. 2. The first and second level are directly comparable. The third level opens up a few subgroups in order to best portray the national economy. On the third level there are 93 economic activities.