Latest News Stream - Wage Growth

Average gross monthly earnings in Cyprus increased by 3.0% year-on-year to EUR 2,548 in the second quarter of 2026, following a 4.0% rise in the previous quarter. This marked the slowest annual wage growth since Q3 2021. Wages for men rose by 2.1% to EUR 2,708, compared with EUR 2,653 in Q2 2025. Meanwhile, wages for women increased by 4.1% to EUR 2,345, up from EUR 2,252 a year earlier. On a seasonally adjusted quarterly basis, average gross monthly earnings rose by 0.6% to EUR 2,663.

Poland’s corporate sector wages rose 5.9% year-on-year to PLN 9,266.48 in September 2026, accelerating from 5.6% in August but below market expectations of a 6.1% gain. On a monthly basis, average gross wages increased 0.1%, while wages excluding profit-related payments rose 0.2%. Meanwhile, average paid employment fell 0.8% year-on-year to 6.36 million full-time equivalents, extending the decline to 1.0% in the first nine months of the year. Employment also decreased 0.1% month-on-month. The average gross wage for January-September rose 5.8% year-on-year to PLN 9,353.52. The statutory minimum wage increased 3.0% to PLN 4,806 in January 2026, also contributing to wage growth.

Total average weekly earnings in the UK, including bonuses, rose 3.7% year-on-year to GBP 757 in the three months to August 2026, slowing from 3.9% in the previous three-month period but exceeding market expectations of 3.8%. The latest reading marked the softest annual growth since the three months to November 2020, as private-sector pay growth eased to 3.1% from 3.3%, its weakest pace since the three months to November 2020. Public-sector pay growth also moderated to 6.3% from 6.6%. After adjusting for inflation, total earnings rose 0.7%, down from 1.0% in the three months to July and marking the weakest growth since the three months to February.

Hungary’s gross average wages rose by 8.4% year-on-year to HUF 740,600 in August 2026, marking the fastest growth in three months, up from a 7.5% increase in the previous month. Wage growth in the public sector accelerated to 9.2% from 7.4%, while earnings in the private sector also increased by 8.1%, up from 7.4% in July. Meanwhile, wage growth in the non-profit sector rose to 8.9% from 7.7%. Regular average wages, excluding bonuses, rewards, and monthly special allowances, increased by 7.6% year-on-year to HUF 710,600. For the January–August period, average gross wages rose by 10.6% compared with the same period a year earlier, reaching HUF 765,300.

Canada’s average weekly earnings for non-farm payroll employees rose 3.2% year-on-year to C$1,347 in July 2026, following a 3.4% increase in the previous month. Wage gains were most pronounced in finance and insurance (9.9%), management of companies and enterprises (9.4%), administrative and support, waste management and remediation services (8.5%), arts, entertainment and recreation (7.4%), and utilities (4.9%). In contrast, wages declined in forestry, logging and support activities (-3.1%) and real estate and rental and leasing (-2.9%). By province, Nova Scotia (5.6%) posted the largest increase, followed by New Brunswick (5.3%) and the Northwest Territories (4.8%). On a monthly basis, average weekly earnings were little changed in July, while average weekly hours worked remained at 33.4 hours.

Poland’s corporate sector wages rose 5.6% year-on-year to PLN 9,259.54 in August 2026, slowing from 6.8% in July and coming below market expectations of 6.6%. This marked the softest growth in four months. On a monthly basis, average gross wages fell 2.6%, reversing a 1.1% increase in July, as additional payments, including quarterly, annual and discretionary bonuses, awards and retirement severance payments, declined. Average paid employment fell 0.8% year-on-year to 6.37 million full-time equivalents, while also declining 0.2% month-on-month. Year to date, corporate sector wages have risen 5.9%, while employment has fallen 1.0%. The statutory minimum wage increased 3.0% to PLN 4,806 in January 2026, also contributing to wage growth.

Wages and salaries in the euro area rose 3.0% year-on-year in the second quarter of 2026, slowing from a 3.4% increase in the previous three months. Wage growth eased across both industry and services, to 2.8% from 3.4% and 2.9% from 3.3%, respectively, while construction wage growth was unchanged at 4.1%. Among the bloc’s largest economies, wage growth slowed in Germany (2.9% vs 3.3%), Spain (4.3% vs 5.2%), Italy (2.1% vs 2.7%) and the Netherlands (3.1% vs 3.9%). France was the exception, with wage growth picking up to 2.1% from 1.9%.

Hungary’s gross average wages grew by 7.5% year-on-year to HUF 745,500 in July 2026, accelerating from a three-year low of 7.1% rise in the previous month. Wage growth in the public sector increased to 7.4% from 7.1% in June, while earnings growth also rose to 7.4% from 7.0%. On the other hand, wage growth in the non-profit sector declined by 7.7% from 8.1%. Meanwhile, the regular gross average salary (excluding bonuses, rewards, and monthly special allowances) grew by 7.0% year-on-year to HUF 706,900 in July. Considering the first seven months of the year, average gross wages expanded by 11% compared to the same period a year earlier, reaching HUF 768,800.

Total average weekly earnings in the UK, including bonuses, rose 3.9% year-on-year to GBP 756 in the three months to July 2026, slowing from 4.2% in the previous three-month period and matching market expectations. The latest reading marked the softest annual growth since the three months to February, as private-sector pay growth eased to 3.2% from 3.7%, its weakest pace since the three months to December 2020. Meanwhile, public-sector pay growth accelerated to 6.6% from 6.2%, marking its strongest increase since the three months to December 2025. After adjusting for inflation, total earnings rose 0.9%, down from 1.2% in both the three months to June and May and marking the weakest growth since the three months to February.

Average monthly wages in the Czech Republic rose 4.3% year-on-year in the second quarter of 2026, slowing from a near five-year high of 6.4% in the previous quarter and falling short of market expectations for a 5% increase. Despite marking the tenth consecutive period of real wage growth, it was the weakest pace since the first quarter of 2025. The average gross monthly nominal wage in the national economy climbed 6.4% from a year earlier to CZK 51,966. The strongest pay increases were recorded in administrative and support service activities (16.6%), public administration and defence; compulsory social security (9.0%), and arts, entertainment and recreation (8.7%). By contrast, wage growth was weakest in other service activities (0.2%) and mining and quarrying (2.2%). On a seasonally adjusted quarterly basis, average wages increased 1.6%. For the first half of 2026, the average wage reached CZK 50,650, up 6.2% from the same period a year earlier.

Real wages in Slovakia fell by 0.5% year-on-year in the second quarter of 2026, ending ten consecutive quarters of growth and marking the first decline since Q3 2023. The average nominal monthly wage increased by 3.2% to EUR 1,707, up EUR 53 from a year earlier, but the increase was not enough to offset inflation. Nominal wages rose in 16 of the 19 monitored sectors, led by real estate activities (9.8%), while public administration recorded the steepest decline (-4.8%). Real wages increased in 12 sectors, with the strongest gain in real estate (5.9%), while public administration posted the largest drop (-8.2%). In industry, nominal wages rose 4.9% to EUR 1,878, with real wages up 1.2%, while trade wages increased 4% to EUR 1,596, with real wages gaining 0.3%. For the first half of 2026, average nominal monthly wages increased 4.6% to EUR 1,659, while real wages rose 0.9%.

Canada’s average weekly earnings for non-farm payroll employees rose 3.4% year-on-year to C$1,344 in June 2026, following a downwardly revised 3.3% increase in May. The strongest wage gains were recorded in utilities (12.6%), finance and insurance (12.5%), and management of companies and enterprises (11.9%). In contrast, earnings declined in real estate and rental and leasing (-5.3%). By province, Nova Scotia (6.8%) posted the largest increase, followed by Nunavut (6.1%), New Brunswick (4.4%), Ontario (3.9%) and British Columbia (3.7%). The Northwest Territories posted a 1.3% decline. Month-on-month, average weekly earnings rose 0.6% in June, while average weekly hours worked were little changed at 33.4 hours.

Hungary’s gross average wages rose by 7.1% year-on-year to HUF 754,700 in June 2026, easing from an 8.7% increase in the previous month. The latest figure marked the weakest growth since February 2023, as wage growth in the public sector slowed to 7.1% from 9.4% in May, while earnings growth in the private sector also decreased to 7.0% from 8.5%. Additionally, wage growth in the non-profit sector moderated to 8.1% from 8.9%. On the other hand, gross earnings excluding one-off payments and bonuses increased by 7.9% year-on-year to HUF 708,600 in June. In the first half of 2026, average gross wages grew by 11.5% compared with the same period a year earlier, reaching HUF 772,800.

Average weekly earnings in Ireland rose 3.9% year-on-year to EUR 1,046.88 in the second quarter of 2026, following a revised 3.4% increase in the previous three-month period, according to preliminary estimates. Earnings rose across 12 of the 13 economic sectors during Q2 2026, with the strongest growth recorded in accommodation and food services at 7.7%, followed by the administrative and support services sector, which rose 5.6%. Average hourly earnings also posted solid annual growth, rising 3.8% to EUR 31.96 and increasing in all 13 economic sectors. At the same time, average weekly paid hours edged up by 0.3%, from 32.7 hours in Q2 2025 to 32.8 hours in Q2 2026.

Poland’s corporate sector wages rose 6.8% year-on-year to PLN 9,509.02 in July 2026, beating expectations of 6.2% and accelerating from 5.9% in June. This marked the strongest annual growth since December 2025, driven by faster wage growth across several sectors, including agriculture, forestry and fishing (26.2% vs. 1.9% in June), mining and quarrying (21.9% vs. 2.4%), electricity, gas, steam and air conditioning supply (13.4% vs. 2.4%), water supply, sewerage, waste management and remediation (7.3% vs. 7.1%), and information and communication (7.2% vs. 5.9%). On a monthly basis, average gross wages increased 1.1% in July, slowing from 2.5% in June. The increase was driven by additional payments, including bonuses and awards such as quarterly, annual and discretionary bonuses, as well as Forester’s Day awards, jubilee awards and retirement severance payments. Year to date, corporate sector wages have risen 5.9%.

Total average weekly earnings in the UK, including bonuses, rose 4.1% year-on-year to GBP 755 in the three months to June 2026, slowing from 4.4% in each of the previous three-month periods but matching market expectations. The latest result marked the softest pace since the three months to February, as private-sector pay growth eased to 3.7% from 4.1%, also the weakest since February. Meanwhile, public-sector pay growth accelerated sharply to 6.2% from 5.5%, marking its strongest increase since the three months to December 2025. After adjusting for inflation, total earnings rose 1.1%, slightly below the 1.2% increase recorded in the three months to May and April.