Average monthly wages in Slovakia increased 4.7 percent from a year earlier in real terms during the third quarter of 2019, following a 7.0 percent jump in the previous period. Wage Growth in Slovakia averaged 1.43 percent from 1991 until 2019, 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 3.90 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 3.50 in 12 months time. In the long-term, the Slovakia Real Wage Growth is projected to trend around 2.80 percent in 2020, according to our econometric models.


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Slovakia Real Wage Growth

Actual Previous Highest Lowest Dates Unit Frequency
4.70 7.00 14.70 -33.10 1991 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-03-07 08:00 AM Q4 3.5% 3.3% 3.7%
2019-06-07 07:00 AM Q1 4.6% 3.5% 3.3%
2019-09-06 07:00 AM Q2 7.0% 4.6% 3.5%
2019-12-05 08:00 AM Q3 4.7% 7.0% 3.5%
2020-03-06 08:00 AM Q4 4.7% 3.9%
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News Stream
2019-06-07
Slovakia Real Wage Growth at Over 3-Year High
The real average wages in Slovakia increased 4.6 percent from a year earlier in the first quarter of 2019, accelerating from a 3.5 percent rise in the previous three-month period. It was the highest gain in wages since the last quarter of 2015. The average nominal monthly wage jumped 7.1 percent year-on-year to EUR 1,023. The highest level of the average monthly wage was registered in the sector of financial and insurance activities (EUR 2,021); information & communication (EUR 1,886); and in electricity, gas & steam supply (EUR 1,817); while the lowest was recorded in accommodation & food service activities (EUR 572); other service activities (EUR 639) and in construction (EUR 707).

2019-03-07
Slovak Real Average Wages Rise 3.5% in Q4
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).

Slovakia Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.92 4.92 19.79 4.88 percent [+]
Employed Persons 2585.10 2569.90 2589.30 2083.50 Thousand [+]
Unemployed Persons 135517.00 135507.00 533676.00 134124.00 [+]
Labor Force Participation Rate 94.10 94.30 94.30 79.40 percent [+]
Long Term Unemployment Rate 3.30 3.30 12.50 3.30 percent [+]
Youth Unemployment Rate 16.70 16.10 39.90 13.30 percent [+]
Productivity 128.10 119.60 130.70 56.70 points [+]
Labour Costs 114.20 120.10 121.40 46.90 points [+]
Wages 1371.00 1132.00 1371.00 349.00 EUR/Month [+]
Wages in Manufacturing 1354.00 1109.00 1354.00 341.00 EUR/Month [+]
Minimum Wages 520.00 520.00 520.00 69.43 EUR/Month [+]
Population 5.45 5.44 5.45 3.39 Million [+]
Retirement Age Women 62.42 62.17 62.42 62.00 [+]
Retirement Age Men 62.42 62.17 62.42 62.00 [+]
Living Wage Family 640.00 635.00 640.00 635.00 EUR/Month [+]
Living Wage Individual 450.00 445.00 450.00 445.00 EUR/Month [+]
Part Time Employment 118.50 111.00 148.90 35.10 Thousand [+]
Wages Low Skilled 678.00 542.00 678.00 518.00 EUR/Month [+]
Wages High Skilled 1250.00 945.00 1250.00 884.00 EUR/Month [+]
Wage Growth 4.70 7.00 14.70 -33.10 percent [+]
Employment Change 0.20 0.30 1.90 -1.40 percent [+]
Employment Rate 68.50 68.10 68.60 56.10 percent [+]
Full Time Employment 2427.20 2420.10 2446.40 1877.10 Thousand [+]