Average wages - 2nd quarter of 2012

In Q2 2012 the average gross monthly nominal wage per full-time equivalent (FTE) employee in the entire national economy increased by 2.3% compared to the corresponding period of the previous year. Yet it fell by 1.1% in real terms.

In Q2 2012 the average gross monthly nominal wage ^*) (hereinafter only as “the average wage”) per FTE employee in the entire national economy was CZK 24 626, which was by CZK 546 (2.3%) higher than in the same period of 2011. In the aforementioned period of 2012 consumer prices grew by 3.4% and thus wages decreased by 1.1% in real terms. The wage volume rose by 1.3%; the number of employees declined by 1.0%.

The average wage development in the business sphere as well as in the non-business one was identical as in the entire national economy, wages increased nominally by 2.3%, but decreased by 1.1% in real terms. The data were affected by an administrative transfer of reporting units in between the spheres; see the commentary on the average wage development.

Compared to the previous quarter the seasonally adjusted average wage in Q2 2012 grew by 0.5%.

In the first half of 2012 the average wage reached the amount of CZK 24 341; that means the increase was CZK 657 (2.8%) compared year-on-year. In the aforementioned period of 2012 consumer prices grew by 3.5% and thus the real wages decreased by 0.7%.
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^*) The average gross monthly nominal wage is a share of wage funds (including extra pay for overtime work, bonuses, compensation of wages, etc.) for one employee per month. Therefore this does not indicate what wage one concrete employee has. Results of structural statistics, in which data on earnings of respective employees are available, show that roughly two thirds of employees have the average wage below the national average.
It is necessary to keep in mind the employers pay, from the gross wages, appropriate amounts for premiums for health insurance and social security, income tax advances of natural persons, and other statutory deductions, or deductions agreed with the employee for their employees. The employees are paid net wages.

Analysis - Commentary: Development of average wages of employees in Q2 2012


Notes:
The data are preliminary; revised data will be available in December 2012.
Responsible head at the CZSO: D Holý, Director of the Labour Market and Equal Opportunities Statistics Department, phone +420 274 052 694, e-mail: dalibor.holy@csu.gov.cz
Contact person: J Erhartová, Head of the Labour Statistics Unit, phone +420 274 052 116, e-mail: jitka.erhartova@csu.gov.cz
Method of data acquisition: the CZSO direct survey and models
End of data processing: 27 August 2012
Related data set: e-3106-12 Registered Number of Employees and Their Wages (2 ^nd Quarter of 2012),
http://www.czso.cz/csu/2011edicniplan.nsf/p/3106-12
Next News Release will be published on: 4 December 2012