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Definition

Nominal Wage

The nominal wage, also known as the money wage, is the amount of money paid to a worker for their labor, expressed in a country's currency (e.g., pesos, dollars, or rupees) per unit of time. This wage rate can vary significantly by occupation and industry. It is a 'nominal' value because it does not account for changes in the price level or purchasing power.

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Updated 2025-10-03

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