Average wages - 3 quarter 2014

In Q3 2014 the average gross monthly nominal wage per FTE employee in the national economy increased by 1.8% compared to the corresponding period of the previous year. In real terms it rose by 1.2%. The median wage was CZK 21 521.

In Q3 2014 the average gross monthly nominal wage ^*) (hereinafter only as “the average wage”) per FTE employee in the national economy was CZK 25 219, which was by CZK 441 (1.8%) more than in the same period of 2013. In the aforementioned period of 2014 consumer prices grew by 0.6% and thus wages increased by 1.2% in real terms. The wage volume grew by 2.5% and the number of employees rose by 0.7%.

The average wage in the business sphere increased nominally by 1.7%, that means it rose by 1.1% in real terms; in the non-business sphere the average wage increased nominally by 1.9%, and thus grew by 1.3% in real terms.

Compared to the previous quarter, the seasonally adjusted average wage in Q3 2014 grew by 0.1%.

The median wage (CZK 21 521) increased by 1.5% compared to the same period of the previous year. The male median wage was CZK 23 492 and the female one was CZK 19 215. Eighty per cent of employees earned wages within the interval from CZK 10 457 to CZK 40 326.

In the period from Q1 2014 to Q3 2014 the average wage reached CZK 25 179 and its increment was CZK 608 (2.5%), compared year-on-year. In the aforementioned period of 2014 consumer prices grew by 0.3% and thus wages increased by 2.2% in real terms.
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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.
The median wage represents a value of an employee wage in the middle of the wage distribution. That means one half of the wages is lower and the second half of the wages is higher than the median wage. Conversely to the average wage, which is calculated on the basis of background data from enterprise reports, the median must be derived from a statistical-mathematical model based on a sample survey, because enterprise questionnaires contain just aggregated data for the whole enterprise or organization.
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.


Notes:
The data are preliminary; revised data will be available in March 2015 .
Responsible head at the CZSO: D Holý, Director of the Labour Market and Equ al 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 direct survey and models of the CZSO, and the ISPV model
End of data processing: 24 November 2014
Related data set: 110024-14 Registered Number of Employees and Their Wages (3 ^rd Quarter of 2014),
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Next News Release will be published on: 11 March 2015