Czech average wage grows by Kc793 to Kc24,806 in Q1 - CSU


05.06.2014 09:20

Prague - Czech average wage increased in Q1 by Kc793 yr/yr to Kc24,806, and nominal growth reached 3.3 percent and real growth was 3.1 percent, the Czech Statistical Office (CSU) said today.


Peníze, bankovky, česká měna, koruna, úspory - ilustrační foto. ČTK Zavoral Libor

The result was better than expected by analysts. They predicted a real wage hike of around 2.5 percent.

Analysts assigned the big annual increase to one-off factors.

In the same year-ago period, the average wage was artificially lower over tax changes in 2013, they said.

Some large companies paid bonuses for 2012 in December of the year instead of in the first months of 2013 due to the changes.

Consumer prices were 0.2 percent higher in the first quarter, and wage costs rose by 3.4 percent. The number of employees increased by 0.1 percent.

In the business sector, statisticians recorded a nominal growth in average wages amounting to 3.6 percent, and real growth reached 3.4 percent.

In the non-business sector, average wage posted a nominal hike of 2.2 percent and a real increase of 2 percent, the CSU said.

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