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Average monthly wage of employee in economy of the SR in the 1st quarter of 2022
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Average monthly wage of employee in economy of the SR in the 1st quarter of 2022

Ilustračný obrázok/Illustrative image


Wages rose at a swift pace also at the beginning of 2022, but in many sectors they were not sufficient enough to keep up with the rising inflation

At the beginning of 2022, average gross wage increased year-on-year in all the 19 monitored sectors of the economy. However, a real wage growth was achieved in only seven of them.

The average nominal monthly wage of an employee in the economy of the SR during the first three months of 2022 reached EUR 1 212 and increased by 7.8% compared to the corresponding period of the previous year. Wages were growing at a higher rate for several quarters, with the current value outpacing growth in the last quarter of last year.

However, except wages, consumer prices also rose dynamically, therefore the real wage adjusted for the effect of inflation dropped by 1.4%. On average, people were able to buy less goods and services for their income than a year ago. Such a decline in real wages was last time recorded in the 2nd quarter of 2020. Whereas then the decline was caused by the pandemic, at the beginning of the year, it was due to the accelerating inflation. The seasonally adjusted average wage rose by 1.4% quarter-on-quarter (compared with the 4th quarter of 2021).

Illustrative image – graph

Download high resolution chart format PDF (71 kB) or PNG (178 kB).

The growth of the average nominal wage was recorded in the 1st quarter of 2022 in all the 19 monitored sectors of the economy. In year-on-year comparison, the wages in financial and insurance activities (by 19.8%) as well as in other service activities (by 16.1%) rose relatively the most rapidly. The third highest growth was recorded in accommodation and food service activities (by 14.6%), which were most affected by the effects of the pandemic. At the same time, it has long been the sector with the lowest average wage in the Slovak economy, currently at the level of EUR 659 per month.

In total, up to 11 sectors of the economy had a wage lower than the average of the Slovak economy and 8 sectors were above average. The highest average gross wages have long been in the financial and insurance activities (currently EUR 2 527 in the 1st quarter of this year). On average, employees in the information and communication sector and in the supply of electricity, gas and steam currently earned over EUR 2 000 per month.

Similarly, the sectors employing the most people in Slovakia recorded high year-on-year wage increases, industry by 8.1% (to the level of EUR 1 272) and trade by 11.9% (to EUR 1 132). Real wages continued to grow in trade, but in industry they dropped. Similarly, wage growth has not been sufficient enough to keep up with the inflation rate in 11 other sectors of the economy. Real wages dropped the most of those working in real estate activities (by 8.3%).

From a regional perspective, only Bratislavský kraj had a higher average monthly wage than the entire economy of the SR (EUR 1 546). In other regions, wages ranged from EUR 919 in Prešovský kraj to EUR 1 128 in Trnavský kraj, on average. In all regions, the average wage was higher year-on-year, with the highest relative increase in Žilinský kraj at 8.9% and in Trnavský kraj at 8.7%. However, after adjusting the effect of inflation, the average wages in real terms decreased in all regions of Slovakia. The least in Žilinský kraj (by 0.4%) and the most in Prešovský kraj (by 2.9%).

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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