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ECONOMIC BRIEFS

Real wages fall in most sectors in September

The average nominal monthly wage in Slovakia in September increased 11% year-on-year in industry and retail businesses, 2.3% in construction, 5.1% in wholesale, and 9.2% in transportation, read a report released by the Slovak Statistics Bureau on November 5.

However, when wages are adjusted with regard to the development in consumer prices, the report showed that real wages in September were lower in all monitored sectors - 1.7% lower in industry and retail businesses, 9.2% lower in construction, 5.7% lower in wholesale, and 1.3% lower in transportation.

In September, the growth in employment in retail businesses was 5.2%, while in wholesale it was 2.1% on an annualised basis. Downward trends in employment continued in industry, where it dropped 2.7%, and in the construction industry, which reported an 11.8% fall from last year.

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