The private sector added more to the workforce than the state

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There is an even bigger difference when comparing median incomes, which divide workers into two equal halves. One earns more than the given amount, the other less. The median gross monthly salary was slightly below 48,000 kroner, while wages were almost 8,000 less.

“The differences can be due to various factors, for example higher qualifications in the salary sphere or the fact that there are not so many low-income professions in it,” says Vít Hradil, chief economist at Cyrrus. 66 percent of Czech employees do not reach the average wage. In the case of the average salary, it is 59 percent.

Three positions of the highest paid professions in the public sector were occupied by doctors last year. For example, the median income of primary school students was approximately 150,000 crowns per month. The most generously compensated employees in the private sector remain the highest representatives of large companies and institutions, whose salary exceeds 235 thousand crowns.

Economist: With the drop in earnings, we are already out of the worst

Economy

The Ministry collects data on salaries and wages within the Information System on Average Earnings. Selected employers are obliged to contribute directly to it. The data should thus accurately show the development of the labor market.

While the salaries of the highest-earning employees remain higher than in the private sector, they have not grown as quickly. While for the mentioned primary care workers they increased by about seven percent and for surgeons by five, for example, the salaries of directors of IT companies rose by about a quarter to 218,000 per month.

The median in the entire private sector rose by six percent in the fourth quarter of last year, in the public sector by 3.6 percent. The average wage then increased by 5.9 percent, while salaries increased by 4.1 percent.

Of the individual fields, wages grew the fastest in mining and quarrying, where employees improved by an average of 9.2 percent. Incomes of people in the waste and water supply sector also came close to nine percent growth. In terms of salaries, people working in education improved the most, by five percent.

Czechs will start to get rich

However, the growth of employee incomes in the vast majority of professions did not beat inflation, which was 10.7 percent last year, according to data from the Czech Statistical Office. This year should be different, the Czechs will start getting rich again.

Year-on-year inflation was only two percent in February and, for example, according to the CNB, it should remain at similar levels. Wages will grow faster. “We expect that the wage increase may be around four to five percent,” believes Hradil. According to him, the data for the first quarter will already show the growth of real incomes.

However, according to Hradil, the drop in inflation may slow down wage growth somewhat. Companies will not see an increase in revenue, and at the same time, employees will not push as much to add. “They were not active even in times of high inflation, despite the fact that there is minimal unemployment in the Czech Republic. So there is no reason to think that it should be any different now,” added the economist.

New employees earn up to 15 percent more than existing employees

Finance

The article is in Czech

Tags: private sector added workforce state

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