Czech wage growth eases to 2% in Q4 2011.

By bne IntelliNews March 12, 2012
The average gross monthly wage in the Czech Republic rose by 2% to CZK 26,067 (EUR 1,100) in the fourth quarter of 2011, the statistics office said. Wages grew slightly slower than in the previous quarter when they increased by 2.4% y/y. The growth was at the lower band of a 2%-2.6% analysts forecast. The business sector was the main growth driver as wages there rose by 2.1%, while in the non-business sector they advanced by only 1.6%. In real terms, wages advanced by 0.4% in October to December 2011, registering a slightly weaker annual growth than the 0.6% hike in the previous three months. Real wages in the business sector edged by 0.3% down and in the non-business sector they decreased by 0.8%. Employees in the information and communications sector receive the highest average pay of CZK 46,445, while accommodation and food services sector employees get the lowest pay of CZK 13,241. In full-2011, the average wage increased by 2.2% in nominal terms and by 0.3% in real terms to CZK 24,319.
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