Minimum Wages in Serbia increased to 366.04 EUR/Month in the first quarter of 2021 from 344.43 EUR/Month in the third quarter of 2020. source: EUROSTAT

Minimum Wages in Serbia averaged 217.77 EUR/Month from 2002 until 2021, reaching an all time high of 366.04 EUR/Month in the first quarter of 2021 and a record low of 92.72 EUR/Month in the third quarter of 2002. 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 May of 2021.

Minimum Wages in Serbia is expected to be 366.00 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 366.00 in 12 months time. In the long-term, the Serbia Gross Minimum Monthly Wages is projected to trend around 380.00 EUR/Month in 2022 and 410.00 EUR/Month in 2023, according to our econometric models.

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Serbia Gross Minimum Monthly Wages

Actual Previous Highest Lowest Dates Unit Frequency
366.04 344.43 366.04 92.72 2002 - 2021 EUR/Month Quarterly

Serbia Labour Last Previous Highest Lowest Unit
Unemployment Rate 9.90 9.00 25.50 7.30 percent [+]
Employed Persons 2920900.00 2936600.00 2938700.00 2157618.00 [+]
Unemployed Persons 514.13 509.82 970.00 491.35 Thousand [+]
Wages 62280.00 63109.00 66092.00 3821.00 RSD/Month [+]
Minimum Wages 366.04 344.43 366.04 92.72 EUR/Month [+]
Population 6.93 6.96 7.63 6.93 Million [+]
Retirement Age Women 63.17 63.00 63.17 58.00 [+]
Retirement Age Men 65.00 65.00 65.00 63.00 [+]
Employment Rate 49.70 49.90 49.90 34.30 percent [+]
Labor Force Participation Rate 55.10 54.80 55.50 46.10 percent [+]
Labour Costs 108.17 115.89 135.28 64.88 points [+]
Youth Unemployment Rate 32.40 26.50 54.20 20.70 percent [+]
Wage Growth 5.30 10.60 94.60 -8.80 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).