Average wage growth breaks records, due to a lack of labour and salary valorisation

Observers predict the average wage will continue increasing.

Illustrative stock photoIllustrative stock photo (Source: Sme)

The average nominal monthly wage in Slovakia has posted the highest growth since the first quarter of 2008. It rose to €1,101, up by 9.7 percent year-on-year in the second quarter of the year.

Taking into account the inflation rate, an increase of the real wage amounted to 7 percent. The seasonally adjusted average wage rose by 2.9 percent compared with the first quarter of 2019, as stems from the Statistics Office data.

The increase surprised the analysts.

“Nominal wages reflect the tightening labour market and the administrative changes like the surcharges for weekend and night work,” said Katarína Muchová, analyst with Slovenská Sporiteľňa, as quoted by the TASR newswire.

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