The real wage in the Olomouc region fell by 11.1 percent in the second quarter due to inflation

The real wage in the Olomouc region fell by 11.1 percent in the second quarter due to inflation
The real wage in the Olomouc region fell by 11.1 percent in the second quarter due to inflation

The average salary in the region from April to June this year rose by 2.9 percent to 36,012 crowns and is still among the lowest in the country. In the whole of the Czech Republic, real wages have been falling for three quarters. In the second quarter, it decreased by 9.8 percent year-on-year, the average wage rose by 4.4 percent to CZK 40,086. This follows from information published on the website of the Czech Statistical Office (ČSÚ) on Monday.

The fourth lowest average salary in the country

Compared to other regions, the Olomouc Region reported the fourth lowest average wage in the second quarter. Employees in the Karlovy Vary region had the least amount on their pay slips, who received an average of 34,725 crowns in the second quarter. It was followed by the Pardubice Region with 35,385 crowns and the Zlín Region with 35,864 crowns. The average registered number of employees in enterprises of the Olomouc region increased by 0.3 percent year-on-year to 217,900 in the second quarter.

Compared to the average gross monthly wage in the entire Czech Republic, the wage in the region was more than 4,000 crowns lower in the 2nd quarter. In comparison to the wage found in enterprises in the territory of Prague, which was the highest in the inter-regional comparison and amounted to 49,221 crowns, employees in the Olomouc region received an average of 13,209 CZK less.

Already in the first quarter of this year, the real wage in the Olomouc region decreased by 4.6 percent, last year it decreased by 2.9 percent in the fourth quarter and by 1.4 percent in the third quarter. Economists expected a significant drop in real wages in the second quarter of this year, and according to them, high inflation will devalue wage growth throughout this year. In general, two-thirds of employees do not reach the average wage. Development of average wages in the Olomouc region and the Czech Republic (in crowns):

Source: ČTK

The article is in Czech

Czechia

Tags: real wage Olomouc region fell percent quarter due inflation

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