Czech Wages Reach All-time High Of CZK 32,466 In The First Quarter Of 2019
Yesterday, the Czech Statistical Office released data on the average and median income in the Czech Republic. The country with the lowest unemployment in the EU (2.7%) has reported a year-on-year average wage increase of over 7%. Photo: Stock picture.
Prague, Czech Republic, Jun 5 (JS) – In the first quarter of 2019, the average gross monthly nominal wage per employee in the country increased by 7.4% compared to the same period of the previous year. The average wage reached CZK 32,466 in Q1 of 2019, which is CZK 2,236 more than in the same period of the previous year.
Consumer prices grew by 2.7% in the first quarter of the year, with real wages rising by 4.6%.
The median wage has reached CZK 27,582; it stands at CZK 29,936 for men, and CZK 24,982 for women. 80% of workers in the Czech Republic received monthly wages between CZK 14,566 and CZK 51,420 at the beginning of 2019.
The total value of wages in the Czech economy increased by 8.3% and the number of employees by 0.8%.
The Czech economy has been constantly growing in the recent years; the Czech Statistical Office indicates that the country’s gross domestic product increased by 2.6% year-on-year, as of the first quarter of 2019.