Money Buzz! Europa

Tag: wage

  • Eurostat: 15% of all EU employees are low-wage earners

    Eurostat: 15% of all EU employees are low-wage earners

    In 2018, 15.3% of employees in the European Union (EU) were low-wage earners (this means that they earned two-thirds or less of their national median gross hourly earnings) compared to 16.4% in 2014.

    18.2% of female employees were low-wage earners in 2018, compared with 12.5% of male employees.

    In 2014, 19.9% among female employees and 13.2% among males were low wage earners.

    Highest share of low-wage earners in Latvia, lowest in Sweden

    The proportion of low wage earners varied significantly among EU States in 2018.

    The highest share was observed in Latvia (23.5%), followed by Lithuania (22.3%), Estonia (22.0%), Poland (21.9%) and Bulgaria (21.4%).

    In contrast, less than 10% of employees were low-wage earners in Sweden (3.6%), Portugal (4.0%), Finland (5.0%), Italy (8.5%), France (8.6%) and Denmark (8.7%).

    Low-wage earners accounted for more than a quarter (26.3%) of employees aged less than 30.

    The proportion of low-wage earners in the older age groups was much less, at 13.9% in the 50 and above age group and 12.6% in the 30-49 age group.

    More than a quarter (27.1%) of employees in the EU with a low education level were low-wage earners.

    Fewer employees with a medium level of education were low-wage earners (18.0% of employees), while low-wage earners accounted for just 4.6% of employees with a high education level.

    For employees whose contract of employment was of limited duration, 28.1% were low-wage earners, compared with 12.8% of those with an indefinite contract.

  • 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 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.

  • Hourly labour cost in Bulgaria rose by 10.2% in Q1 2020

    Hourly labour cost in Bulgaria rose by 10.2% in Q1 2020

    Latest National Statistical Institute data show that the total hourly labour cost rose by 10.2% compared to the first quarter of 2019.

    The total hourly labour cost grew by 9.0% in industry, by 9.2% in services and by 8.1% in construction.

    The highest annual growths in total labour costs were recorded in ”Education” – 25.9%, ”Real estate activities” – 23.2% and ”Accommodation and food service activities” by 13.5%.

    Lowest annual growth is just 3.4% and is registered in ”Mining and quarrying” field.

  • 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.

  • 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).