WAGE RATE INDEX
- WRI is compiled and maintained by the Labour Bureau, an attached office of the Ministry of Labour & Employment (MoL&E).
- It has been revised as per the recommendations of International Labour Organization (ILO), National Statistical Commission (NSC) etc.
- The new series has increased the scope and coverage in terms of number of industries, sample size, occupations under selected industries, weightage of industries etc.
What is Wage Rate?
- Wage rate may be defined as the price of working energy spent by a worker either for a specified period of time or for a specified measure of performance. This rate is settled in advance between the employer & employee.
Weightage of the Top Five Industries
- Motor vehicles (11.49 per cent), coal mines (9.53 per cent), textile garments (9.32 per cent), iron & steel (9.30 per cent), and cotton textiles (6.55 per cent) — together account for 46 per cent of the total weight.