Wages - 4. quarter of 2007

In Q4 2007, the average gross monthly nominal wage was CZK 23,435 which is by 6.8% more in the year-on-year comparison, the real wage grew by 1.9% which is the lowest growth for the last 8 quarters. In the business sphere, the average wage rose by 6.7%, in the non-business sphere by 7.1%.
Over the year 2007, the average wage increased by 7.3 % and reached CZK 21,692, the real wage went up by 4.4%.
In Q4 2007, the seasonally adjusted average gross monthly nominal wage (hereinafter only the “average wage“) per actual person increased by 1.6%, compared with Q3.

The average wage accounted for CZK 23,435 and was by CZK 1,488 higher (6.8%) compared with the same period of 2006. Consumer prices in Q4 2007 compared with the same period of the previous year rose by 4.8%, with the real wage rising by 1.9 %. The average wage increased by CZK 1,470 (6.7 %) to CZK 23,484 in the business sphere, with the real wage rising by 1.8%. The average wage rose by CZK 1,547 (7.1%) to CZK 23,259 in the non-business sphere, with the real wage rising by 2.2 %.

In Q4 2007, wage differences between industries decreased moderately compared with the same period of 2006. The variation coefficient of average wages (by CZ-NACE division) dropped by 0.5 percentage point to 33.8%.

The average nominal wage (by CZ-NACE sections) dropped in financial intermediation (-0.4%), low relative growth of nominal wages was recorded in mining and quarrying and in education (+4.6% for both), the highest growth was recorded in agriculture, hunting and forestry (+12.9 %), in hotels and restaurants (+10.0%) and public administration and defence; compulsory social security (+8.9%). The highest nominal wage (financial intermediation) was roughly 2.4times higher than the lowest nominal wage (hotels and restaurants).

Even greater difference is apparent in average wages according to institutional sectors. In the long term, the highest average nominal wages are reached in financial institutions (CZK 39,210 in Q4 2007). The lowest wages (CZK 14,855) were recorded in the household sector (i.e. wages of employees employed by unincorporated natural persons).

In 2007, the average gross monthly nominal wage reached CZK 21,692, the increase made up CZK 1,485 Kč (+7.3%), year-on-year. Consumer prices rose in the given period by 2.8 %, the real wage rising by 4.4 %. In the business sphere the average wage rose by CZK 1,525 (7.5 %) to CZK 21,853, the real wage by 4.6 %. In the non-business sphere the average wage increased by CZK 1,333 (6.7%) to CZK 21,117, with the real wage rising by 3.8%.

Analysis - Analysis of the development of average wages of employees

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Note:
Contact: D. Holý, phone (+420) 274052694, e-mail: dalibor.holy@csu.gov.cz
Data source: CZSO direct quarterly survey – see the methodological note under the attached table for details
End of data collection: 8 February 2008
End of data processing: 22 February 2008
The data are preliminary; revised data will be available in June 2008.
Related publication: 3106-07 Registered Number of Employees and their Wages in the CR for Q4 2007, to be brought out in March 2008