Minimum Wages in Serbia decreased to 307.67 EUR/Month in the second half of 2019 from 308.04 EUR/Month in the first half of 2019.

Minimum Wages in Serbia averaged 253.15 EUR/Month from 2012 until 2019, reaching an all time high of 308.04 EUR/Month in the second quarter of 2019 and a record low of 230.14 EUR/Month in the fourth quarter of 2016. This page provides - Serbia Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Gross Minimum Monthly Wages - values, historical data and charts - was last updated on July of 2020.

Minimum Wages in Serbia is expected to be 340.00 EUR/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Serbia to stand at 410.00 in 12 months time. In the long-term, the Serbia Gross Minimum Monthly Wages is projected to trend around 410.00 EUR/Month in 2021, according to our econometric models.

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Serbia Gross Minimum Monthly Wages

Actual Previous Highest Lowest Dates Unit Frequency
307.67 308.04 308.04 230.14 2012 - 2019 EUR/Month Quarterly

Serbia Labour Last Previous Highest Lowest Unit
Unemployment Rate 9.70 9.70 25.50 9.50 percent [+]
Employed Persons 2877400.00 2938200.00 2938700.00 2157618.00 [+]
Unemployed Persons 513.05 513.06 970.00 500.64 Thousand [+]
Wages 58932.00 59681.00 59941.00 3821.00 RSD/Month [+]
Minimum Wages 307.67 308.04 308.04 230.14 EUR/Month [+]
Population 6.96 7.00 7.63 6.96 Million [+]
Retirement Age Women 62.00 61.50 62.00 58.00 [+]
Retirement Age Men 65.00 65.00 65.00 63.00 [+]
Labor Force Participation Rate 54.00 55.00 55.50 46.10 percent [+]
Labour Costs 106.10 106.01 128.00 65.44 points [+]
Employment Rate 49.70 49.60 49.70 34.30 percent [+]
Wage Growth 10.90 9.90 94.60 -8.80 percent [+]
Youth Unemployment Rate 25.50 29.10 54.20 24.40 percent [+]


Serbia Gross Minimum Monthly Wages
In Serbia, minimum wage refers to gross monthly earnings and it's published by Eurostat twice a year. Since in Serbia the minimum hourly wage is fixed, the following conversion is applied: (hourly net rate x 40 hours x 52.2 weeks) / 12 months. In January, 2015 it was approved an increase of 5.2% in the minimum hourly wage (last adjusted upwards was in 2012).