Wages - 1. quarter of 2005
Average wage slowed down its growth, differentiation became larger
Publication Date: 31. 05. 2005
Product Code: r-3101-05
In Q1 2005 , the seasonally adjusted average gross monthly wage per actual person was 0.8% up on Q4 2004 (nominal terms).
The average gross nominal wage (hereinafter also referred to as the average wage) amounted to CZK 17 678, which is by CZK 970 (+5.8%) up on the corresponding period of 2004. The year-on-year wage growth (+5.8%) in Q1 2005 had been the lowest since 1993 in comparison with average annual growth rates. In Q1 2005, consumer prices rose by 1.6%, the real wage rising by 4.1%.
In the business sphere, the average wage increased by CZK 833 (+4.9%) to CZK 17 772 and the real wage increased by 3.2%. Compared with the average growth rate in 2004, the growth of the average wage in Q1 2005 slowed down in this sphere by 2.0 percentage points.
In the non-business sphere, the average wage increased by CZK 1 424 (+8.9%) to CZK 17 358 and the real wage grew by 7.2%. In comparison with the average for 2004, the average wage accelerated its growth by 3.2 percentage points. Here the wage development was affected by adjustments to salaries and wages of employees in public services and administration effective as of 1 January 2005 (see the analysis by the CZSO to by published by 3 June ).
In Q1 2005, wage differences between industries became wider compared to the corresponding period in 2004. The variation coefficient of average wages (by CZ-NACE division) grew by 3.4 percentage points to 39.8%.
In terms of CZ-NACE sections, the lowest relative growth of nominal wages was seen in hotels and restaurants (+2.0%), fishing (+3.1%) and manufacturing (+3.3%), while the highest occurred in financial intermediation (+14.0%), public administration and defence, compulsory social security (+11.0%) and real estate, renting and business activities (+8.6%).
The highest average wages are paid in the long run in internationally owned companies (CZK 22 988), whereas the lowest are recorded for entities owned by cooperatives (CZK 11 226).
Analysis - Commentary on the development of average wages of employees
Note
Contact: Ivo Makalouš, phone +(420) 274052159, e-mail: ivo.makalous@csu.gov.cz
Data source: CZSO direct quarterly survey – see the methodological note under the attached table for details
End of data collection: 16 May 2005
End of data processing: 25 May 2005
The data are preliminary; revised data will be available in late August 2005.
Related publication: 3106-05 Registered Number of Employees and their Wages in the CR for the 1st Quarter of 2005 to be brought out in June 2005.