GROSS PAY/TOTAL INCOME FROM EMPLOYMENT
|GROSS PAY/TOTAL INCOME FROM EMPLOYMENT
At personal level, term used as a generic expression for gross wage and gross salary: an employee's gross remuneration (wage or salary before the deduction of income tax and the employee's social insurance contribution).
In the distribution account of the National Accounts, it is used to mean total personal income from employment (as distinct from other forms of income from property, etc.) in the national economy as a whole, for which the international jargon is “compensation of labour”. It therefore denotes total wages and salaries including employers' social insurance contributions. (In Austrian usage, these latter contributions are also referred to as the social wage.)