Czech wages gain 7.2% in Q2 rise past CZK 34,000

Czech wages gain 7.2% in Q2 rise past CZK 34,000

Published at: 2019-09-04 09:37 | Author: CIJEurope.com
The average Czech wage rose 7.2 percent in the second quarter to CZK 34,105 per month, according to the Czech Statistics Office. That works out to a 4.3 percent gain in real terms if inflation is factored out. The median wage also rose by 6.9 percent to CZK 29,127, while it was revealed that 80 percent of all employees make between CZK 14,955 and CZK 55,259 per month. Seznam.cz quotes Komerění banka economist Michal Brožka says however that the pace of wage increases is slowing. "For this year, we're counting on a rise in wages at an average pace of 6.5 percent compared to last year's 7.6 percent increase. For next year, we expect wages to rise at an average rate of 5.3 percent." The highest paid employees worked in the financial and insurance sectors where they earned an average of CZK 63,852.

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