The growth of real wages continued in May, employment also increased in most sectors

Compared to the last year, all 10 monthly monitored sectors recorded a rise in real wages, in only half of them they increased by more than 5%. Employees in transportation and storage recorded the highest improvement. Higher employment than last year was recorded in 6 out of 10 sectors, with the largest increase in selected market services. The number of employees decreased mainly in industry and food and beverage service activities.

The average nominal monthly wage^1,2) increased year-on-year in all 10 monthly monitored sectors in May 2024. It grew at a double-digit rate in transportation and storage by 11.1%, and in retail trade by 10.3%. For the third month in a row, all selected sectors also recorded the increase in real wages, which ranged from 1% in accommodation to 8.7% in transportation and storage. Retail trade, industry and sale and repair of motor vehicles also recorded more significant growth in real wages above 6%.

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In total, for the first five months of 2024, both nominal and real wages rose in all 10 monthly monitored sectors. The growth of nominal wages above 10% was recorded by transportation and storage, industry and also retail trade. Real wages increased in a range from 1.7% in information and communication to 8.1% in transportation and storage. Their growth above 7% was recorded by industry and retail trade.

Year-on-year development of employment

Employment^1,3) increased compared to last year in up to 6 of the 10 monthly monitored sectors in May 2024. It rose the most in selected market services, by more than 5%, and in the accommodation sector by more than 4%. Industry continued to struggle with the loss of the number of employees, currently employment in it decreased by 2%. Lower number of employees than a year ago also worked in food and beverage service activities, wholesale and also in transportation and storage.

In total, for the first five months of 2024, employment grew year-on-year in 5 out of 10 sectors, the fastest in selected market services by 4.7%. Year-on-year, lower numbers of employees were recorded in industry, wholesale, retail trade, food and  beverage service activities, and in transportation and storage.