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.

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Czech Republic Real Wage Growth

Actual Previous Highest Lowest Dates Unit Frequency
-2.50 1.40 7.40 -3.10 2001 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-12-04 08:00 AM Q3 4% 4.3% 4.1% 4.5%
2020-03-06 08:00 AM Q4 3.6% 4% 3.4% 3.6%
2020-06-04 07:00 AM Q1 1.4% 3.6% 1.4% 1.6%
2020-09-03 07:00 AM Q2 -2.5% 1.4% -2.1% -1.2%
2020-12-04 08:00 AM Q3 -2.5% -1.1%
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News Stream
Czech Republic Wages Shrink at 2nd Highest Record Rate
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.
2020-09-03
Czech Republic Real Wages Rise the Least since 2013
The average real monthly wages in the Czech Republic increased 1.4 percent year-on-year in the first quarter of 2020, the smallest gain since a decline in 2013. Nominal wages rose by 5 percent to CZK 34 077 and prices went up 3.6 percent. The median wage was CZK 29 333 and increased by 5.8 percent year-on-year. The male median wage reached CZK 31 790 and the female one was CZK 26 723. Eighty per cent of employees earned wages within the interval from CZK 15 761 to CZK 53 850.
2020-06-04
Czech Real Wages Rise the Least since 2017
The average real monthly wages in the Czech Republic increased 3.6 percent year-on-year in the fourth quarter, easing from 4 percent in the previous period but beating market expectations of 3.4 percent. It was the smallest increase in real wages since the first quarter of 2017, as nominal wages rose by 6.7 percent to CZK 36,144 and inflation grew by 3.6 percent. Compared to the previous quarter, the seasonally adjusted average wage went up by 1.6 percent. Considering the full year of 2019, real wages increased by 4.2 percent, as nominal wages advanced 7.1 percent to CZK 34,125 and inflation grew by 2.8 percent.
2020-03-06
Czech Wage Growth Slows to 2-Year Low in Q3
The average real monthly wage in Czech Republic increased 4 percent year-on-year in the third quarter 2019, easing from a 4.3 percent in the previous period and below market expectations of 4.1 percent. It was the smallest gain in real wages since the third quarter of 2017, as nominal wages rose by 6.9 percent to CZK 33,697 and inflation grew by 2.8 percent. Compared to the previous quarter, the seasonally adjusted average wage went up by 1.6 percent.
2019-12-04

Czech Republic Real Wage Growth
In Czech Republic, Real Wage Growth measures the year-on-year change in average gross monthly wage per full-time equivalent employee adjusted for inflation.