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Average nominal monthly wage in Slovakia increased 3.3%

Staff Writer |
In Q3 2016 compared with Q3 2015, the average nominal monthly wage of an employee in Slovakia (including an estimate for employees working for tradesmen) increased by 3.3% and reached EUR 889.

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The development of real wage, which year-on-year increased by 4%, was affected by a decrease of consumer prices in comparison with the growth of nominal wage. After seasonal adjustment, the average nominal wage grew by 1% compared with the 2nd quarter of 2016.

The highest average monthly wage was reached by employees working in information and communication (EUR 1 672), financial and insurance activities (EUR 1 563), electricity, gas and steam supply (EUR 1 517).

In nine sectors, the wage was lower than the average in economy of the SR. The lowest average nominal wage was recorded in accommodation and food service activities (EUR 593), other service activities (EUR 622) and in construction (EUR 655).

Compared with the corresponding period last year, relatively the fastest growth of the average nominal monthly wage was recorded in administrative and support service activities (by 9.7%), agriculture (by 7.3%), arts, entertainment and recreation (by 6.8%) and in real estate activities (by 6.6%). It was reduced in information and communication (by 0.8%).

In terms of the legal form of entities, the average nominal monthly wage increased, compared with the 3rd quarter of 2015, in budgetary organizations by 6.3% to EUR 898, allowance organizations by 4.7% to EUR 999, in large enterprises employing 20 people or more by 3.6% to EUR 1,048 and in small enterprises employing 19 people or fewer by 0.3% to EUR 701.

The average wage was higher than in the 3rd quarter of 2015 in all regions, with the highest increase by 6.2% in Trnavský kraj. The highest wages were in Bratislavský kraj (EUR 1 116). In other regions, the amount of wages ranged from EUR 689 in Prešovský kraj to EUR 834 in Trnavský kraj.

In the period from 1st to 3rd quarter of 2016, the average nominal monthly wage of an employee in economy reached EUR 886. It increased year-on-year by 3.1% and the real wage increased by 3.7%.

Compared with the corresponding period last year, growth of the nominal monthly wage was faster by 0.6 p.p.

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