Wage growth slowed down in February, lagging behind inflation in 4 sectors

Wages rose nominally in February, but their year-on-year growth rate slowed down significantly. In 4 out of 10 sectors monitored monthly, wage growth even lagged behind price growth. Employment was higher year-on-year in only 3 sectors, but it dropped in half of them.

The average nominal monthly wage¹⁾ in February 2025 rose year-on-year in all 10 sectors monitored monthly. The growth rate ranged from 1.9% in sale and repair of motor vehicles to 12.8% in information and communication.

The real wage (wage adjusted for inflation) increased in 6 of the 10 sectors monitored monthly. It rose the most, by up to 8.7%, in information and communication, and the least, by only 1%, in industry. Higher real growth in the interval from 4% to 5% was reflected in accommodation as well as in food and beverage service activities. Lower real wages than a year ago, from 0.7% to 1.8%, were in transportation and storage, also in selected market services, as well as in wholesale and in sale and repair of vehicles

In the first two months of 2025, nominal wages rose year-on-year in all 10 monthly monitored sectors, but real wages were higher in 9 of them. Real growth ranged from 0.6% in wholesale to 5.5% in information and communication. Wages adjusted for inflation were 0.6% lower than last year in selected market services.

Employment development

February´s employment²⁾ rose year-on-year in three sectors, i.e. in accommodation, retail trade and selected market services. On the contrary, it decreased in 5 sectors, the most in industry by 1.9% and the least in information and communication by 1.2%. It remained unchanged in construction and in sale and repair of motor vehicles.

Employment from January to February 2025 was higher year-on-year in 3 of the 10 monthly monitored sectors, decreased in 6 sectors and remained unchanged in 1. The development of the number of employed persons ranged from -2.1% in industry to 3.3% in accommodation.