The real wage in Slovakia declined 0.6% year-on-year in the third quarter of 2023, the softest decrease since the first quarter of 2022 and slowing from a 2% fall in the previous period. The sector employing the most people in Slovakia, trade (1.6%), and industry (0.5%) posted a mild increase in real wages. Meanwhile, the average nominal monthly wage increased by 8.3% from a year earlier to EUR 1,403, due to increases recorded by all 19 monitored sectors of the economy, ranging from 2.1% in the education sector to 18.5% in real estate activities. Considering the first three quarters of 2023, the real wage fell by 2.5% and the average nominal monthly wage grew by 9.2% to EUR 1,383 compared to the corresponding period of the previous year. source: Statistical Office of the Slovak Republic

Wages in Slovakia decreased 0.60 percent in September of 2023 over the same month in the previous year. Wage Growth in Slovakia averaged 1.30 percent from 1991 until 2023, 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. This page provides - Slovakia Real Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Slovakia Real Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Wages in Slovakia decreased 0.60 percent in September of 2023 over the same month in the previous year. Wage Growth in Slovakia is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Slovakia Real Wage Growth is projected to trend around 2.60 percent in 2025, according to our econometric models.

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Slovakia Real Wage Growth


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-09-04 07:00 AM
Real Wages YoY
Q2 -2% -4.9% -2.8%
2023-12-04 08:00 AM
Real Wages YoY
Q3 -0.6% -2% -1.3%
2024-03-04 08:00 AM
Real Wages YoY
Q4 -0.6% -1.0%


Related Last Previous Unit Reference
Employed Persons 2610.80 2608.90 Thousand Sep 2023
Labor Force Participation Rate 94.10 94.30 percent Sep 2023
Wages 1615.00 1891.00 EUR/Month Dec 2023
Wages in Manufacturing 1582.00 1875.00 EUR/Month Dec 2023
Population 5.43 5.43 Million Dec 2023
Wage Growth -0.60 -2.00 percent Sep 2023

Slovakia Real Wage Growth
Actual Previous Highest Lowest Dates Unit Frequency
-0.60 -2.00 14.70 -33.10 1991 - 2023 percent Quarterly
NSA

News Stream
Slovakia Real Wages Fall Less in Q3
The real wage in Slovakia declined 0.6% year-on-year in the third quarter of 2023, the softest decrease since the first quarter of 2022 and slowing from a 2% fall in the previous period. The sector employing the most people in Slovakia, trade (1.6%), and industry (0.5%) posted a mild increase in real wages. Meanwhile, the average nominal monthly wage increased by 8.3% from a year earlier to EUR 1,403, due to increases recorded by all 19 monitored sectors of the economy, ranging from 2.1% in the education sector to 18.5% in real estate activities. Considering the first three quarters of 2023, the real wage fell by 2.5% and the average nominal monthly wage grew by 9.2% to EUR 1,383 compared to the corresponding period of the previous year.
2023-12-04
Slovakia Real Wages Fall Less in Q2
The real wage in Slovakia fell 2% year-on-year in the second quarter of 2023, after a 4.9% drop in the previous period, and pointing to the softest decrease since the first quarter of 2022. The average nominal monthly wage reached EUR 1,419 with a year-on-year growth of 9.9%, the strongest since the second quarter of 2021, amid increases recorded by all 19 monitored sectors of the economy. However, real wage growth was achieved in only six of them. The sectors employing the most people in Slovakia, trade (-2.8%) and industry (-2.1%), recorded slightly higher drops in real wages than the Slovak average.
2023-09-04
Slovakia Real Wages Drop 4.9% in Q1
The real wage in Slovakia declined 4.9 percent year-on-year in the first quarter of 2023, following a 7.6 percent drop in the previous period. Employees in information and communication, art, entertainment and recreation, and financial and insurance activities felt the most significant drop in real wages at the level of 7 to 9 percent. On the other hand, employees in accommodation and food services were the only ones to see an increase in their real wages, by 1.7 percent. Meantime, the average nominal monthly wages climbed 9.5 percent from a year earlier to EUR 1,327. Wages rose relatively faster in accommodation and food services (17 percent), construction (14.8 percent) and in other activities (13.8 percent). While all sectors of the economy saw growth in the average nominal wage, none of them was able to offset the impact of high inflation.
2023-06-05