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. Wage Growth in Czech Republic averaged 2.95 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 4.50 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 3.30 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.

Czech Republic Real Wage Growth
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-04 08:00 AM Real Wages YoY Q3 6.0% 6.2% 5.1%
2019-03-08 08:00 AM Real Wages YoY Q4 4.7% 6% 5.7% 4.7%
2019-06-04 07:00 AM Real Wages YoY Q1 4.6% 4.7% 4% 4.5%
2019-09-03 07:00 AM Real Wages YoY Q2 4.3% 4.6% 4.2% 4.3%
2019-12-04 08:00 AM Real Wages YoY Q3 4.3% 4.5%


Czech Republic Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.70 2.70 9.69 0.09 percent [+]
Unemployed Persons 204789.00 205120.00 629274.00 3000.00 [+]
Long Term Unemployment Rate 0.70 0.60 4.50 0.60 percent [+]
Youth Unemployment Rate 7.00 6.70 21.80 5.10 percent [+]
Labour Costs 122.10 125.92 125.92 57.46 Index Points [+]
Job Vacancies 350564.00 346563.00 350564.00 30803.00 [+]
Wages 34105.00 32466.00 34105.00 6001.00 CZK/Month [+]
Wages in Manufacturing 34364.00 31798.00 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 60.50 60.80 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 332.80 327.10 332.80 190.80 Thousand [+]
Productivity 110.60 102.30 123.50 62.40 Index Points [+]
Wages High Skilled 35400.00 32200.00 35400.00 29500.00 CZK/Month [+]
Wage Growth 4.30 4.60 7.40 -3.10 percent [+]
Wages Low Skilled 15700.00 14600.00 15700.00 13400.00 CZK/Month [+]
Employed Persons 5295.93 5305.53 5326.33 4675.90 Thousand [+]
Employment Change 0.00 0.60 1.60 -1.30 percent [+]
Employment Rate 75.00 75.40 75.40 63.70 percent [+]
Full Time Employment 4821.60 4848.70 4848.70 4306.10 Thousand [+]


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. This page provides - Czech Republic Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Czech Republic Real Wage Growth - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.30 4.60 7.40 -3.10 2001 - 2019 percent Quarterly
NSA




Country Last Previous
Argentina 2.60 Jun/19
Australia 2.30 Jun/19
Canada 2.50 Jun/19
Euro Area 2.70 Jun/19
France 0.80 Mar/19
Germany 1.30 Jun/19
Italy 0.70 Jul/19
Japan -0.30 Jul/19
Netherlands 2.68 Aug/19
Russia 3.00 Aug/19
Spain 4.92 Jul/19
Switzerland 0.50 Jun/19
United Kingdom 4.00 Jul/19
United States 5.20 Jul/19


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