Illustrative photo – Development of average wages in the Czech Republic between 2006 and 2022.
Prague – The Czech Statistical Office (ČSÚ) will today publish information on the development of average wages for the last quarter of last year. According to analysts, the average wage in real terms, i.e. after including inflation, fell again. Wages have been decreasing in real terms since the fourth quarter of 2021, having fallen by 9.8 percent year-on-year in the third quarter of last year.
Analysts of Česká spořitelna estimate that the decline in real wages accelerated in the last quarter of last year and reached 10.3 percent year-on-year. “Real wages will continue to fall until roughly the middle of this year. Together with the weakening of inflation, they will then return to growth in the second half of this year,” they said.
For the whole of last year, Česká spořitelna analysts expect an average decline real wages by 7.7 percent. According to Komerční banka analysts, real wages fell by 7.2 percent last year.
The average wage in the third quarter of last year was 39,858 crowns, nominally increased by 6.1 percent year-on-year. In general, two-thirds of employees do not reach the average wage. The median, i.e. the middle value of wages, was 37,530 crowns for men and 32,171 crowns for women in the second quarter. Eighty percent of employees received wages between 18,301 and 62,659 crowns.