Reference Value Report: Living Wage and 2024 Update for Rural Honduras

This report updates the Anker Living Wage Reference Value for rural Honduras to 2024. This was HNL 6,852 (USD 277) for 2020 in the original report, comprised of a Net Living Wage of NHL 6,304 (USD 255), plus a social security contribution of HNL 548 (USD 22). The updated Anker Gross Living Wage for 2024 is HNL 8,168 (USD 329) per month, comprised of a Net Living Wage of HNL 7,882 (USD 317), plus social security contribution of HNL 286 (USD 12). Note that because social housing fund contributions are now optional, they are not taken into account. Inflation in this period was 25.0%. Without accounting for inflation, the Living Wage estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Wage would have decreased. Social security contributions were calculated using the most up-to-date tax laws.