Prague’s average gross wage hits 41,720 CZK in Q3 2019

Average wages in the Czech Republic rose almost 7% compared to the same time last year
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Wages in the Czech Republic rose almost 7% in the third quarter of 2019, compared to the same time year ago, according the Czech Statistical Office (ČSÚ).

The average gross monthly nominal wage per employee in Q3 2019 was 33,697 CZK, or 2,163 CZK (6.9%) more than in Q3 2018. During the same time consumer prices grew by 2.8%, meaning wages increased by 4.0% in real terms. The wage volume grew by 7.0% and the number of employees increased by 0.1%.

Compared to the second quarter of 2019, the seasonally adjusted average wage in Q3 2019 increased by 1.6%.

In Prague, the average monthly wage in Q3 2019 was 41,720 CZK, up 2.308 or 5.9% compared to the same time in 2018. Central Bohemia was second highest at 34,058 CZK.

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The region with the lowest average wage was Moravia-Silesia, at 30,712 CZK. The Olomouc district, however, has the lowest wage of any subregion, at 30,709 CZK.

By job sector, the highest pay was in information and communication, at 57,785 CZK, followed closely by finance and insurance at 56,191 CZK. The lowest was in accommodation and food service at 20,214 CZK, followed by administrative and support services at 22,639 CZK.

The largest increase was in education, up 11.1% to reach 34,489 CZK. Public service ans defense rose the least, up 4.9% to reach 37,810 CZK.

The median wage was 29,549 CZK, up 6.7% compared to the same period of the previous year. Men still earned more than women. The male median wage reached 31,909 CZK and the female wage was 26,887 CZK. Some 80% of employees earned wages between 15,680 CZK and 52 531 CZK.

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In the period from Q1 2019 to Q3 2019 the average wage reached 33,429 CZK, inceasing 2,233 CZK (7.2%) year-on-year. In the first three quarters of 2019 consumer prices grew by 2.8%, meaning wages increased 4.3% in real terms.

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For Prague, the wage in Q1–Q3 was 41,891 CZK, up 2,485 CZK or 6.3%.

The average gross monthly nominal wage is a share of wage funds, including extra pay for overtime work, bonuses, and compensation of wages, for one employee per month. It does not indicate what wage one concrete employee has. Roughly two-thirds of employees have a wage below the national average.

The median wage is a value of an employee wage in the middle of the wage distribution. That means one half of the wages is lower and the second half of the wages is higher than the median wage.

Employers pay, from the gross wages, premiums for health insurance and social security, income tax advances, and other deductions. The employees are paid net wages.

The Czech Republic has the lowest unemployment in Europe, which has been causing wages to rise as employers compete to attract qualified candidates.

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