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Average monthly wage of employee in economy of the SR in the 2nd quarter of 2022
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Average monthly wage of employee in economy of the SR in the 2nd quarter of 2022

05.09.2022
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05.09.2022

Wages continued to increase at a rate of over 7%, but in real terms the largest decline was recorded in wages in the last 22 years

In the 2nd quarter, average gross wages grew in all 19 monitored sectors of the economy in the SR, year-on-year; it was not possible to keep up with the current inflation in any of them as for the increase in wages. The smallest decrease in real wages was recorded by employees in sectors in which they earn the least in the long term.

The average nominal monthly wage of an employee in the economy of the SR increased by 7.4% to EUR 1,291, year-on-year. However, the cost of living increased at an even faster rate and significantly exceeded the growth of nominal wages. The real wage in Slovakia declined by 4.5%, year-on-year, which was the most since the 2nd quarter of 2000. The seasonally adjusted average wage increased by 2.4% compared to the 1st quarter of 2022.

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A year-on-year growth in the average nominal wage was recorded by all 19 monitored sectors of the economy, and all of them also recorded a significantly higher value of wage than in the same period before the pandemic (in the 2nd quarter of 2019). Wages grew relatively fastest in construction (by 12.4%), in accommodation and food service activities (by 12.2%), professional, scientific and technical activities, and in arts, entertainment and recreation (by 11.9%).

Thanks to a significant year-on-year growth in these sectors, they also recorded the smallest decrease in real wages. Mostly, those working in construction  or in accommodation and food service activities, who earn the least in the long term, recorded a decrease in real wage by only 0.1% and 0.3%. The most considerable drop of approximately 10% in real wages was recorded by employees of sectors that, on the other hand, are at the top of the ranking of the highest average gross wages.

Currently, the highest level of average monthly wage was recorded in the sector of information and communication (EUR 2,244), financial and insurance activities (EUR 2,204) and electricity, gas and steam supply (EUR 2,226). The lowest average nominal wage was recorded by employees in accommodation and food service activities (EUR 745), other service activities (EUR 818) and construction (EUR 909). In total, wages in eleven sectors were lower than the average for the economy of the SR.

In the 2nd quarter of 2022, relatively high year-on-year increases were also recorded in the sectors in which the most people is employed, in industry by 7.7% (to the level of EUR 1,383) and in trade by 10.1% (to EUR 1,243).

From a territorial point of view, the average nominal monthly wage was again higher than the average for the entire Slovak economy only in Bratislavský kraj (EUR 1,577). In the other regions, it ranged from EUR 984 in Prešovský kraj to EUR 1,260 in Košický kraj. In all regions, the average wage was higher than in the 2nd quarter of 2021, with the highest relative increase of 9.4% in Košický kraj. However, in real terms, wages decreased in all regions of Slovakia. It decreased the least in Košický kraj (by 2.8%) and the most in Prešovský kraj (by 6.2%). At the same time, wages were significantly higher in all regions of Slovakia compared to the last quarter before the pandemic.

In summary, for the first half of 2022, the average nominal monthly wage of an employee in the economy of the SR reached EUR 1,252. It increased by 7.7% year-on-year, its growth rate accelerated by 0.7 percentage points compared to the same period last year. The real wage decreased by 2.9%, in the first half of 2021; it still recorded a growth at the level of 5.3%.

Note: according to quarterly statistical reporting; without business income, the data are adjusted by the statistical estimate of unrecorded wages of employees employed by self-employed persons;
p.p. percentage point

Data source-DATAcube. Database:

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  • Lamačská cesta 3/C
  • 840 05 Bratislava 45


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