The average real monthly wages in the Czech Republic fell 2.5 percent year-on-year in the second quarter of 2020, the biggest decrease since a record 3.1 percent drop in the fourth quarter of 2013. Nominal wages went up 0.5 percent to CZK 34,271 but the inflation was 3.1 percent. The wage volume decreased by 2.9 percent and the number of employees fell 3.4 percent. Compared to the previous quarter, wages fell 3.1 percent.
Wage Growth in Czech Republic averaged 2.88 percent from 2001 until 2020, reaching an all time high of 7.40 percent in the third quarter of 2002 and a record low of -3.10 percent in the fourth quarter of 2013. This page provides - Czech Republic Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Czech Republic Real Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Wage Growth in Czech Republic is expected to be -1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Czech Republic to stand at 1.30 in 12 months time. In the long-term, the Czech Republic Real Wage Growth is projected to trend around 1.50 percent in 2021 and 2.90 percent in 2022, according to our econometric models.