The majority of sectors continue to struggle with the decline in real wages

Employment rose in most monitored sectors, it decreased only in three of them. The growth of nominal wages slowed slightly across the economy, but the pace of decline in real wages accelerated. Compared to last year, there was a slight improvement only in the sectors with the lowest wages.

In March 2023, the number of employed persons¹⁾ increased in 6 of the 10 monitored sectors of the economy. Significant growth in employment in accommodation continued, while vacant positions of the employees who were dismissed during the pandemic, continued to be filled. In information and communication, the number of employed persons increased by 2.4%, in food and beverage service activities by 1.1%, in other sectors their growth did not exceed 1%.

The largest employer – industry had an identical employment as in March 2022, breaking a year-long period of decrease in the number of employees. Similarly as in February, the decline in the number of employees continued in three sectors, namely in selected market services, wholesale and in transportation and storage.

In the first quarter of 2023, employment increased in 7 out of the 10 monitored sectors. It rose the most in accommodation (by 7.1%), followed by information and communication with a growth of 2.5%. In other sectors, employment increased by up to 1%. Employment was lower by 3% year-on-year in selected market services, in wholesale by 1.2% and in industry by 0.6%.

Year-on-year development of the average wage

In all ten sectors of the economy, the pace of year-on-year growth of the average nominal monthly wage²⁾ slowed down in March 2023. Similarly as in the previous month, wages increased the most in the sectors with the lowest wages – in food and beverage service activities by 18% to EUR 700, construction by 15% to EUR 1 000 and in accommodation by 15% to EUR 1 038. Wages rose the slowest in the sector with the long-term highest wages, namely in information and communication by almost 6% to EUR 2 617.

The high inflation also cut nominal wages in March, thus the real wages were lower year-on-year in 7 out of 10 monitored sectors. They dropped the most in information and communication by 7.8%, in transportation and storage by 5.7% and in industry by 5.1%. The real wage increased by 2.8% in food and beverage service activities and very slightly in accommodation and construction (equally by 0.2%).

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In the first quarter of 2023, nominal monthly wage increased in all monitored sectors, with double-digit growth in the majority of sectors. It increased the most in accommodation, up to one fifth, and the least in information and communication by 7.4%. Since the beginning of the year, real wages have increased only in accommodation by 5% and in food and beverage service activities by 1.5%. In the other eight sectors, they decreased from 0.3% in construction to 6.7% in information and communication.