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. Wage Growth in Czech Republic averaged 2.96 percent from 2001 until 2019, 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.

Wage Growth in Czech Republic is expected to be 4.60 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 3.40 in 12 months time. In the long-term, the Czech Republic Real Wage Growth is projected to trend around 2.90 percent in 2020, according to our econometric models.

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Czech Republic Real Wage Growth

Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.30 7.40 -3.10 2001 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-03-08 08:00 AM Q4 4.7% 6% 5.7% 4.7%
2019-06-04 07:00 AM Q1 4.6% 4.7% 4% 4.5%
2019-09-03 07:00 AM Q2 4.3% 4.6% 4.2% 4.3%
2019-12-04 08:00 AM Q3 4% 4.3% 4.1% 4.5%
2020-03-06 08:00 AM Q4 4% 4.5%


News Stream
2019-09-03
Czech Wage Growth Eases to Nearly 2-Years Low in Q2
The average real monthly wage in Czech Republic increased 4.3 percent year-on-year in the second quarter of 2019, slowing from a 4.6 percent in the previous period, but above market expectations of 4.2 percent. It was the smallest gain in real wages since the third quarter of 2017, as nominal wages rose by 7.2 percent to CZK 34,105 and inflation grew by 2.8 percent. Compared to the previous quarter, the seasonally adjusted average wage went up by 1.7 percent.

2019-06-04
Czech Wage Growth Slows to Over 1-Year Low in Q1
The average real monthly wage in Czech Republic increased 4.6 percent year-on-year in the first quarter of 2019, easing from a 4.7 percent rise in the previous period. Nominal wages advanced by 7.4 percent to CZK 32,466 and inflation went up 2.7 percent. Compared to the previous quarter, the seasonally adjusted average wage went up by 1.9 percent.

2019-03-08
Czech Wage Growth Slows to 1-Year Low of 4.7% YoY in Q4
The average real monthly wage in Czech Republic increased 4.7 percent year-on-year in the fourth quarter of 2018, easing from a 6 percent rise in the previous period. Nominal wages advanced by 6.9 percent to CZK 33,840 and inflation went up at a softer 2.1 percent. Compared to the previous quarter, the seasonally adjusted average wage went up by 1.5 percent.


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.

Czech Republic Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.90 2.60 9.69 0.09 percent [+]
Unemployed Persons 215532.00 197289.00 629274.00 3000.00 [+]
Long Term Unemployment Rate 0.60 0.70 4.50 0.60 percent [+]
Youth Unemployment Rate 5.20 5.50 21.80 4.40 percent [+]
Labour Costs 114.36 117.45 120.96 56.23 points [+]
Job Vacancies 340957.00 338670.00 350564.00 30803.00 [+]
Wages 33697.00 34105.00 34105.00 6001.00 CZK/Month [+]
Wages in Manufacturing 32917.00 34364.00 34364.00 11827.00 CZK/Month [+]
Minimum Wages 518.97 468.87 518.97 92.35 EUR/Month [+]
Population 10.61 10.59 10.61 9.59 Million [+]
Retirement Age Women 62.67 62.33 62.67 58.00 [+]
Retirement Age Men 63.33 63.17 63.33 61.00 [+]
Labor Force Participation Rate 60.30 60.50 61.00 58.10 percent [+]
Living Wage Family 20500.00 20900.00 20900.00 17700.00 CZK/Month [+]
Living Wage Individual 15500.00 15700.00 15700.00 12600.00 CZK/Month [+]
Part Time Employment 325.70 332.80 332.80 190.80 Thousand [+]
Productivity 122.70 110.60 123.50 62.40 points [+]
Wages High Skilled 35400.00 32200.00 35400.00 29500.00 CZK/Month [+]
Wage Growth 4.00 4.30 7.40 -3.10 percent [+]
Wages Low Skilled 15700.00 14600.00 15700.00 13400.00 CZK/Month [+]
Employed Persons 5307.76 5295.93 5326.33 4675.90 Thousand [+]
Employment Change -0.20 0.00 1.60 -1.30 percent [+]
Employment Rate 75.20 75.00 75.40 63.70 percent [+]
Full Time Employment 4815.70 4821.60 4848.70 4306.10 Thousand [+]