Average wages - 1. quarter of 2024
Publication Date: 04. 06. 2024
Product Code: 110031-24
In the Q1 2024, the average gross monthly nominal wage per full-time equivalent (FTE) employee in the national economy increased by 7.0% compared to the corresponding period of the previous year. In real terms, it increased by 4.8%. The median wage was CZK 36 651.
“The real wage increased by 4.8% in the Q1 2024, namely thanks to a lower increase in consumer prices compared to the previous periods. After nine quarters there was thus a turnabout, although in some economic activities (industries) the wage of the employees has not increased in real terms,” Jitka Erhartová, Head of the Labour Statistics Unit of the Czech Statistical Office (CZSO), comments.
In the Q1 2024, the average gross monthly nominal wage*) (hereinafter only referred to as ‘the average wage’) per FTE employee in the national economy in total was CZK 43 941, which is by CZK 2 884 (7.0%) more than in the corresponding period of 2023. In the aforementioned period, consumer prices increased by 2.1% and the wage thus increased in real terms by 4.8%. The volume of wages increased by 7.2%; the number of employees increased by 0.1%.
Compared to the previous quarter, the seasonally adjusted average wage increased by 1.7% in the Q1 2024.
According to the breakdown of economic activities (industries) by CZ-NACE section, the highest increase of the average wage compared to the corresponding period of 2023 was recorded in ‘human health and social work activities’ (11.1%), ‘administrative and support service activities’ (10.2%), and in ‘water supply; sewerage, waste management and remediation activities’ (10.1%). The lowest increase occurred in ‘education’ (1.9%) and in ‘public administration and defence; compulsory social security’ (2.1%).
The median wage (CZK 36 651) increased by 5.5% compared to the corresponding period of the previous year. The male median wage reached CZK 39 541 and the female one was CZK 33 793. Eighty per cent of employees earned wages within the interval from CZK 20 753 to CZK 69 219.
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*) The average gross monthly wage is a share of wage funds (including extra pay for overtime work, bonuses, compensation of wages, etc.) per one employee per month. Therefore, it does not indicate what wage one specific employee has. The earnings structure statistics, in which data on earnings of individual employees are available, show that about two thirds of employees have a wage below the national average.
The median wage represents a value of an employee wage in the middle of the wage distribution. It means that one half of the wages is lower and the second half of the wages is higher than the median wage. Unlike the average wage, which is calculated based on background data from enterprise reports, the median has to be derived from a statistical-mathematical model based on a sample survey, because enterprise questionnaires (reports) only contain aggregated data for a whole enterprise or an organisation.
It has to be kept in mind that from the gross wages the employers pay appropriate amounts for premiums for health insurance and social security and advances of income taxes of natural persons for their employees. The employees are paid net wages.
Notes:
The data are preliminary. Refined data will be available in September 2024.
Responsible head at the CZSO: Dalibor Holý, Director of the Labour Market and Equal Opportunities Statistics Department,
Contact person: Jitka Erhartová, Head of the Labour Statistics Unit,
Method of data acquisition: The direct survey and models of the CZSO; the ISAE (Information System on Average Earnings) model
End of data processing: 22 May 2024
Related data set: 110024-24 Registered number of employees and their wages (the first quarter of 2024),
/current-product/41269
The next news release will be published on: 3 September 2024