Money Buzz! Europa

Tag: average wage

  • Average wage in Czechia increased by 1.7%, in real terms, in Q3 2020

    Average wage in Czechia increased by 1.7%, in real terms, in Q3 2020

    In Q3 2020, the average gross monthly nominal wage per full-time equivalent (FTE) employee in Czechia increased by 5.1% compared to the corresponding period of the previous year.

    In real terms, it increased by 1.7%. The median wage was CZK 31,183.

    The average gross monthly nominal wage per FTE employee in the national economy was CZK 35,402, which is by CZK 1,716 more than in the corresponding period of 2019.

    In the aforementioned period of 2020, consumer prices increased by 3.3% and thus wages increased by 1.7% in real terms.

    The wage volume increased by 1.9% and the number of employees decreased by 3.1%.

    Compared to the previous quarter, the seasonally adjusted average wage increased by 5.8% in the Q3 2020.

    In the period from Q1 2020 to Q3 2020, the average wage reached CZK 34,611; in the year-on-year comparison, the increment was CZK 1,188 (3.6%).

    Consumer prices increased for the aforementioned period by 3.3%; the wage increased by 0.3% in real terms.

  • Average monthly wage in Slovakia at EUR 1.113 in Q3 2020

    Average monthly wage in Slovakia at EUR 1.113 in Q3 2020

    In Slovakia, the average monthly wage increased by 4,2 % to EUR 1.113, but the growth was mainly driven by the public sector.

    The unstable period caused by the Covid-19 pandemic in the third quarter has not yet significantly affected the wage growth.

    After a unique decline in the nominal value of the average wage in the last quarter, monthly wages increased by an average of EUR 45 year-on-year in the 3rd quarter.

    After taking into account the inflation rate, real wage growth reached by 2,7 %. Compared to the 2nd quarter of 2020, the seasonally adjusted average wage rose by 6,7 %.

    In the sectors where most people work, the increases reached 2,1 % in industry and 1,5 % in trade.

    Compared to the corresponding period last year, the average nominal wage increased in all sectors monitored, with growth reaching from 0,3 % in administrative services to 10,5 % in public administration and defense.

    Higher increases were also recorded in education (by 10,2 %), health and social work (by 6,7 %) and in professional, scientific and technical activities (by 6,1 %).

    Average nominal monthly wage was higher than on average for the entire economy of the Slovak Republic only in Bratislavský kraj (EUR 1.358).

    In all the other regions, it ranged from EUR 893 in Prešovský kraj to EUR 1.064 in the Trnavský kraj.

  • Average monthly wages and salaries in Bulgaria at 1.373 BGN

    Average monthly wages and salaries in Bulgaria at 1.373 BGN

    In the third quarter of 2020 in comparison with the second quarter of 2020 the average monthly wages and salaries in Bulgaria increased by 2.7% at 1.373 BGN, National Statistical Institute reports.

    The highest increase in wages and salaries was reported in ”Accommodation and food service activities” – by 37.6%, ”Public administration and defence; compulsory social security” – by 16.2% and in ”Arts, entertainment and recreation” – by 14.9%.

    The highest decrease was in the economic activities ”Financial and insurance activities” – by 7.9.

    Compared to the third quarter of 2019 the average monthly wages and salaries in the third quarter of 2020 rose by 9.9%.

    The economic activities with the highest wages and salaries in the third quarter of 2020 were:

    • ”Information and communication”- 3.208 BGN;
    • ”Financial and insurance activities” – 2.106 BGN;
    • ”Electricity, gas, steam and air conditioning supply” – 2.097 BGN.

    The lowest wages and salaries were recorded in:

    • ”Accommodation and food service activities” – 890 BGN;
    • ”Other service activities” – 931 BGN;
    • ”Agriculture, forestry and fishing” – 989 BGN.
  • The the number of employed persons in Bulgaria decreased by 5.6% in Q2

    The the number of employed persons in Bulgaria decreased by 5.6% in Q2

    In the second quarter of 2020 there were 3.079,6 thousand employed persons aged 15 years and over in Bulgaria, of whom 1.642,0 thousand men and 1.437,6 thousand women.

    Compared to the second quarter of 2019, the number of employed persons decreased by 5.6%. The employment rate for the same age group was 52.0% (57.8% for men and 46.6% for women).

    In the second quarter of 2020 there were 192.2 thousand unemployed persons, of whom 108.1 thousand (56.2%) men and 84.1 thousand (43.8%) women.

    The unemployment rate was 5.9%, 6.2% and 5.5% for men and women respectively.

    In comparison with the second quarter of 2019, the unemployment rate rose by 1.7 percentage points, registering an increase by 1.6 percentage points for men and by 1.8 percentage points for women.

    In June 2020 the average wage and salary was BGN 1.355 and rose by 1.7% compared to the previous month and by 8.1% compared to June 2019.

  • Romania: The gross wages at private companies increased by 6.79%

    Romania: The gross wages at private companies increased by 6.79%

    The gross wages at private companies increased by a year-on-year average of 6.79% in the first six months of 2020, according to PwC Romania’s PayWell Salary and Benefits 2020 Survey.

    The respondents estimated that the reported level of increases would be maintained until the end of the year. For 2021, private companies estimate a year-on-year 4.68% average gross wage increase.

    Of the industries represented in the study, the retail sector recorded the highest average wage growth, of 9.87%, followed by banking with 7.39%. The pharmaceutical sector recorded a below survey-average increase of 4.17%.

    In terms of staff categories, the trend of increasing wages amongst unskilled or low-skilled personnel (workers, operators) continues, as an average of 7.32%, but even that is a reduction from last year’s growth rate in excess of 10%.

    In 2020, operational management position salaries increased by 7%, with top management’s growing by 6.72%. At the other end of the scale, administrative staff, technicians and employees with little experience saw their salaries rise by 6.6%.

    In terms of benefits, meal tickets, additional days off, medical subscriptions, free coffee and refreshments, and special occasion bonuses continue to be in the top of preferences.

    To reduce costs since the COVID-19 pandemic outbreak, 49% of the companies surveyed implemented work from home policies, 29% worked in shifts, 5% reduced working time and 5% implemented furloughs.

  • Poland: Average gross wages and salaries up by 4.1% in August 2020

    Poland: Average gross wages and salaries up by 4.1% in August 2020

    In August 2020, average gross wages and salaries were higher by 4.1% year-on-year and amounted to 5337.65 PLN (around EUR 1.200).

    In August this year, compared to July this year, a decrease in average gross wages and salaries in enterprise sector was noted by Statistics Poland.

    It was caused among others by continuation of the payment of bonuses, quarterly, annual and jubilee awards and retirement severance pays (which beside the base remuneration are also included as components of wages and salaries) in the previous month.

    The figures are for companies with more than nine employees.

  • Average net salaries and wages in Serbia at 500 euros

    Average net salaries and wages in Serbia at 500 euros

    Average gross salaries and wages calculated for May 2020 amounted to 81.464 RSD, while average net salaries and wages amounted to 58.892 RSD.

    Increase of gross salaries and wages in the period January – May 2020, relative to the same period last year amounted to 7.7% in real terms. Simultaneously, net salaries and wages increased by 7.6% in real terms.

    Compared with the same month last year, average gross salaries and wages for May 2020 increased by 5.8% in real terms, while average net salaries and wages increased by 5.6% in real terms.

    Median net salaries and wages for May 2020 amounted to 44.463 RSD, meaning that 50% of employees realised wages and salaries up to the mentioned amount.

  • Average gross salaries in Serbia at 81.486 RSD in April 2020

    Average gross salaries in Serbia at 81.486 RSD in April 2020

    Average gross salaries and wages calculated for April 2020 amounted to 81.486 RSD, while average net salaries and wages amounted to 58.932 RSD.

    Increase of gross salaries and wages in the period January – April 2020, relative to the same period last year amounted to 9.8% in nominal terms, i.e. 8.2% in real terms.

    Simultaneously, net salaries and wages increased by 9.6% in nominal terms and by 8.0% in real terms.

    Compared with the same month last year, average gross salaries and wages for April 2020 increased by 8.0% in nominal terms and by 7.4% in real terms, while average net salaries and wages increased by 7.8% in nominal terms and by 7.2% in real terms.

    Median net salaries and wages for April 2020 amounted to 44.129 RSD, meaning that 50% of employees realised wages and salaries up to the mentioned amount. 

  • Slovakia: Decrease in employment and wages deepened in April

    Slovakia: Decrease in employment and wages deepened in April

    A decrease in employment and wages, which was reflected in March figures, deepened even more in most sectors in April, latest statistical figures show.

    In April 2020 compared with April 2019, employment increased only in information and communication by 4,8 %.

    It decreased in food and beverage service activities by 9,3 %, accommodation by 7,5 %, industry and construction equally by 6,1 %, retail trade and in selected market services equally by 4,8 %, wholesale by 3,9 %, sale and repair of motor vehicles by 2,5 % and in transportation and storage by 1,2 %.

    In the first four months of 2020, compared with the corresponding period in 2019, employment rose, on average, in information and communication by 5,1 % and transportation and storage by 1 %.

    It decreased in industry by 3,9 %, retail trade by 3,1 %, food and beverage service activities by 2,2 %, wholesale by 1,8 %, construction by 1,4 %, sale and repair of motor vehicles by 0,8 %, accommodation by 0,3 % and in selected market services by 0,1 %.

    Average monthly wage increased only in retail trade and in wholesale

    In April 2020 compared with April 2019, the average nominal monthly wage increased in selected market services by 1,8 % (reached EUR 999), retail trade by 1,6 % (EUR 759) and in wholesale by 0,8 % (EUR 1 014).

    It significantly decreased in accommodation by 26,9 % (EUR 543), but a fall was recorded also in other activities:

    • food and beverage service activities by 9,8 % (EUR 460),
    • industry by 8,8 % (EUR 1 083),
    • transportation and storage by 5,5 % (EUR 956),
    • sale and repair of motor vehicles by 4,8 % (EUR 981),
    • information and communication by 2,9 % (EUR 1 994), 
    • construction by 1,4 % (EUR 722).

    In April 2020, the average real monthly wage fell in all the surveyed sectors year-on-year, the most in accommodation by 28,4 %.

    It decreased in food and beverage service activities by 11,7 %, industry by 10,7 %, transportation and storage by 7,4 %, sale and repair of motor vehicles by 6,8 %, information and communication by 4,9 %, construction by 3,4 %, wholesale by 1,3 %, retail trade by 0,5 % and in selected market services by 0,3 %.

  • Average monthly wage in Slovakia at EUR 1.086

    Average monthly wage in Slovakia at EUR 1.086

    The average nominal monthly wage of an employee in the economy of the Slovak Republic reached EUR 1.086, the Statistical Office of the Slovak Republic shows.

    Compared with the 1st quarter of last year, it grew by 6,2%, but its dynamics of growth slowed down year-on-year by 0,9%.

    Taking into account the inflation rate, the increase of the real wage reached 3,3%. Compared with the 4th quarter of 2019, the seasonally adjusted average wage grew by 1,4%.

    The highest level of average monthly wage was reached in the sectors of:

    • financial and insurance activities (EUR 2.085),
    • electricity, gas, steam and air-conditioning supply (by EUR 2.070),
    • information and communication (EUR 1.972).

    In eleven sectors, the wage was lower than the average

    The lowest average nominal wage was recorded by employees in accommodation and food service activities (EUR 594), in other activities (by EUR 654) and in construction (by EUR 723).

    Compared with the corresponding period last year, the average nominal monthly wage increased in all sectors, relatively the most rapidly in electricity, gas, steam and air-conditioning supply (by 13,9 %), in public administration and defense (by 11,6 %) and in education (by 10,1 %).

    Highest monthly wage in Bratislavský kraj

    In territorial terms, the average nominal monthly wage was higher than the average of the total economy of the SR only in Bratislavský kraj (EUR 1.394).

    In other regions, it ranged from EUR 834 in Prešovský kraj to EUR 1.007 in Trenčiansky kraj.

    The average wage increased year-on-year, in all regions with the highest relative increase by 7,9% in Nitriansky kraj and with 7,8% in Banskobystrický kraj.

  • Average wage increased by 1.4% in Czechia in Q1 2020

    Average wage increased by 1.4% in Czechia in Q1 2020

    • In the Q1 2020, the average gross monthly nominal wage per full-time equivalent employee in the national economy increased by 5.0% compared to the corresponding period of the previous year.
    • In real terms, it grew by 1.4%. The median wage was CZK 29.333.

    In the Q1 2020, the average gross monthly nominal wage per full-time equivalent employee in the national economy was CZK 34.077, which is by CZK 1 610 (5.0%) more than in the corresponding period of 2019.

    In the aforementioned period of 2020, consumer prices grew by 3.6% and thus wages increased by 1.4% in real terms. The wage volume grew by 4.1% and the number of employees decreased by 0.9%.

    Compared to the previous quarter, the seasonally adjusted average wage in the Q1 2020 increased by 1.1%.

    The median wage was CZK 29.333 and increased by 5.8% compared to the corresponding period of the previous year.

    The male median wage reached CZK 31.790 and the female one was CZK 26.723. Eighty per cent of employees earned wages within the interval from CZK 15.761 to CZK 53.850.

  • Employment fell in most sectors in Slovakia, in March 2020

    Employment fell in most sectors in Slovakia, in March 2020

    • Employment fell in most sectors, rising only in information and communication and transportation and storage, show latest data of the Slovak Statistical Office.
    • Only half of sectors recorded an increase in the average monthly wage.

    In March 2020 compared with March 2019, the employment increased in information and communication by 4,6 % and in transportation and storage by 1,1 %.

    It decreased in industry by 3,6 %, retail trade by 3,5 %, food and beverage service activities by 3 %, accommodation by 2,3 %, wholesale by 1,8 %, sale and repair of motor vehicles by 1,4 %, construction by 0,9 % and in selected market services by 0,8 %.

    In the first three months of 2020, compared with the corresponding period in 2019, employment rose, on average, in information and communication by 5,3 %, accommodation by 2,1 %, transportation and storage by 1,7 %, selected market services by 1,5 %, construction and food and beverage service activities equally by 0,2 %.

    It decreased in retail trade by 2,6 %, industry by 2,5 %, wholesale by 1,1 % and in sale and repair of motor vehicles by 0,2 %.

    Average monthly wage increased in only half of sectors

    In March 2020 compared with March 2019, the average monthly wage increased in food and beverage service activities by 7,5 % (reached EUR 528), wholesale by 4,1 % (EUR 1.082), retail trade by 4 % (EUR 777), industry by 2,5 % (EUR 1.156) and in information and communication by 2 % (EUR 2.227).

    It decreased in accommodation by 6,9 % (EUR 704), sale and repair of motor vehicles by 2,3 % (EUR 997), construction by 2,1 % (EUR 712),  selected market services by 0,9 % (EUR 1.034) and in  transportation and storage by 0,4 % (EUR 987).

    In the first three months of 2020, compared with the corresponding period in 2019, the wage increased, on average, in food and beverage service activities by 10,9 % (reached EUR 550), retail trade by 7,2 % (EUR 790), industry by 4,8 % (EUR 1.155), wholesale by 4,3 % (EUR 1.063), transportation and storage by 4 % (EUR 1.016), selected market services by 3,9 % (EUR 1.031), information and communication by 3,4 % (EUR 2 037), accommodation by 2,9 % (EUR 770), construction by 2,3 % (EUR 723) and in sale and repair of motor vehicles by 1,3 % (EUR 1.046).