TL;DR: PPP adjusts prices across currencies; this metric converts a fixed essentials basket into hours of local work.
Formula: Hours = Monthly essentials basket price (local) ÷ Typical local hourly wage.
Two countries can have similar PPP price levels, but if wages differ, the hours required can be very different. This is an affordability / effort measure, not a price-level measure. It’s closer to the classic “hours of work to buy X,” except the “X” is a core monthly basket (rent + utilities + basic food + transport + essentials). Currency-agnostic, distribution-sensitive, and directly relatable to workers’ time.
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