Average nominal wage grew fastest over the last eleven years, by 9,7 %, year-on-year

The average nominal monthly wage of employee in the SR economy amounted to EUR 1 101 and compared with the 2^nd quarter of the last year, it increased by 9,7 %. This is the highest year-on-year average wage growth since the 1^st quarter of 2008.

Taking into account the inflation rate, an increase of the real wage reached 7%. The seasonally adjusted average wage rose by 2,9 % compared with the 1^st quarter of 2019.

The highest level of the average monthly wage- above EUR 1 890 was reached in the sector of financial and insurance activities, information and communication as well as in electricity, gas and steam supply. In eleven sectors, the wage was lower than the average in the SR economy. The lowest average nominal wage was traditionally recorded by employees in accommodation and food service activities (EUR 657) and in construction (EUR 740).

Wage increased in all sectors, relatively most rapidly in public administration and defense (by 20,3 %), in electricity, gas and steam supply (by 16,7 %), in accommodation and food service activities (by 15,9 %) and in arts, entertainment and recreation (by 14,3 %). Wages in education and in health and social work activities were also growing considerably (equally by 12,6 %).

Besides Bratislavský kraj, another two regions above EUR 1 000

In territorial terms, the average nominal monthly wage was higher than the average of the total SR economy only in Bratislavský kraj (EUR 1 368). In other regions, it ranged from EUR 832 in Prešovský kraj to EUR 1 033 in Trnavský kraj and Košický kraj.

The growth rate of the average wage was high in all regions, in three regions of the SR, the nominal growth was above 10 %, namely in Bratislavský kraj (by 11,3 %), in Košický kraj (by 11 %) and in Nitriansky kraj (by 10,4 %). These are historically the highest year-on-year wage increases since 2005 for Banskobystrický kraj (since quarterly data are released). Košický kraj and Nitriansky kraj had only one increase higher than in the current period, before crisis (Košický kraj in the 1^st quarter of 2005 and Nitriansky kraj in the 1^st quarter of 2008).

At the same time, the lead of Bratislavský kraj in absolute value of wage is so high that, despite lower relative growth compared to most other regions, this region achieved the highest increase in absolute value (by EUR 110).

In the first half of 2019, the average nominal monthly wage of an employee in economy reached EUR 1 062. It increased by 8,4 %, year-on-year, the real wage rose by 5,8 %. The increase of the nominal wage was by 2 p.p faster than in the corresponding period last year.