Average net wage drop in Montenegro decelerates to 5.7% y/y in September 2011.

By bne IntelliNews October 19, 2011
The average net salary dropped to EUR 477 in September, down by 0.8% y/y, according to information published by the country's statistical office (Monstat). The net salary decreases for a second month in a roll although the drop decelerated from 5.8% y/y on August. In September, the highest annual increases were registered in the state administration and social insurance branches, hotels and restaurants, and fishing where net wages rose by 11.7%, 11.3% and 10.9%, respectively. Net salaries decreased the most in mining and quarrying (8.8% y/y), financial intermediary (8.7% y/y) and transport, storage and communications (5.7% y/y). Gross earnings dropped by 0.7% y/y in September, down from the 5.7% annual decrease in the previous month. According to our calculations, the average net wage fell by 4.1% y/y in real terms, as compared to the 9% y/y decline a in August.

Average net wage drop in Montenegro decelerates to 5.7% y/y in September 2011.

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