The real average wage in Slovakia rose 3.5 percent year-on-year in the fourth quarter of 2018, following a 3.3 percent gain in the previous period. The average nominal monthly wage increased 5.8 percent to EUR 1010. The highest level of the average monthly wage was registered in the information and communication (EUR 1 975), financial and insurance activities (EUR 1 856) and in electricity, gas and steam supply (EUR 1 806). Meantime, the lowest average nominal wage was recorded in accommodation and food service activities (EUR 657), other service activities (EUR 733) and in construction (EUR 756). Wage Growth in Slovakia averaged 1.34 percent from 1991 until 2018, reaching an all time high of 14.70 percent in the third quarter of 1992 and a record low of -33.10 percent in the first quarter of 1991.
Wage Growth in Slovakia is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Slovakia to stand at 3.60 in 12 months time. In the long-term, the Slovakia Real Wage Growth is projected to trend around 3.30 percent in 2020, according to our econometric models.