Sectors decreased the number of employees, but in half of them, besides nominal wages, real wages also increased in June

Most of the monitored sectors also struggled with a decrease in employment in June, only 3 out of 10 monthly monitored sectors recorded more employees than a year ago. A significant increase of nominal wages was also reflected in a growth of real wages. Wages resisted inflation in half of the sectors concerned and employees earned more than last year.

A decline in employment¹⁾ in the Slovak economy continued in the month of June 2023. The year-on-year decline was reflected in 7 out of 10 monitored sectors of the economy. Industry²⁾, as the largest employer sector, reduced the number of employees slightly, by 0.2%. Employment in this sector has been decreasing for a long time for 16 months with the exception of March this year. The most significant year-on-year decrease in employment was recorded in food and beverage service activities and in wholesale. In both sectors, the decline exceeded 3%, while the number of employed persons in wholesale has been decreasing since the beginning of the year. The decrease in employment from 1.5% to 1.8% was reflected in retail trade, selected market services and also in sale and repair of motor vehicles.

A year-on-year increase in the number of employees was recorded by construction by 1.7%, information and communication by 1.3% and accommodation by 0.3%.

In total, for the first half of 2023, the number of employees increased year-on-year in 5 of the 10 monitored sectors, the most in accommodation by 3.9%, in construction by 2.5% and in information and communication by 2.1%. On the contrary, employees decreased in selected market services by 2.7%, wholesale by 2%, transportation and storage²⁾ by 0.5% and in industry²⁾ by 0.4%.

Year-on-year development of the average wage

The nominal monthly wage³⁾ increased year-on-year in all 10 monthly monitored sectors of the economy in June 2023. Wages in most of them grew at a double-digit rate. The highest growth, currently by 15%, continued to be maintained by the accommodation sector with an average wage of EUR 1,082. The lowest rate of wage growth below the level of 10% was in transportation and storage²⁾ (in June, wage reached EUR 1,297) and information and communication (EUR 2,372).

Up to half of the monitored sectors resisted the negative impact of high inflation in June 2023. Real wages rose most dynamically in accommodation sector by 3.8%, more modest growth was recorded in selected market services (to EUR 1,440 in nominal value in June), in construction (EUR 1,044)⁴⁾ and food and beverage service activities (EUR 703)⁴⁾ and in wholesale (EUR 1,468)⁴⁾. On the contrary, a decrease in real wages continued in transportation and storage2), in sale and repair of motor vehicles (EUR 1,394)⁴⁾, then in industry²⁾ (EUR 1,515)⁴⁾, retail trade (EUR 1,071)⁴⁾, and it was most reflected in information and communication by 4.5%.

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In total, for the first half of 2023, nominal monthly wages increased in all sectors, ranging from 7% in information and communication to 18.2% in accommodation. After taking into account the impact of inflation since the beginning of the year, real wage increased only in accommodation by 4%, and a slight increase in wages was also recorded by employees working in construction or in food and beverage service activities. In other sectors, employees earned less in real terms than in the first half of 2022. The decrease in real wages was most reflected in information and communication by 5.8%, wages in transportation and storage²⁾ and also in industry²⁾ declined by more than 3%.

In absolute value, the highest wages above the level of EUR 2,400 per month were recorded in information and communication, in most of the monthly monitored sectors, the average wage ranged from EUR 1,046 to EUR 1,458. The lowest overall wages for the first half of 2023 remained in construction (EUR 996) and in food and beverage service activities (EUR 694).

The Statistical Office would like to inform users that together with the publication of data for June 2023, it has revised the monthly data on the number of employees and wages in the sectors of industry and transportation and storage. The data has been revised for the previous period from 2009 based on the supply of new data and the correction of error by reporting units.