Analytics, Financial Services, Society, Wages

Average monthly gross wages and salaries in the private sector accounted for 813 euros and for 885 euros in the public sector, while in general government sector that includes state and local government institutions, State Social Insurance Agency and enterprises controlled and financed by the central and local governments – 824 euros. Annual increase in the wages and salaries was similar in both private and public sector – of 3.3 and 3.2%, respectively.

In the 2nd quarter of 2016, the average net wages and salaries in the country comprised 616 euros, and, compared to the 2nd quarter of the previous year, wages and salaries grew by 2.9%. Annual drop of 0.7% in the consumer prices had effect on the purchasing power of the employed resulting in 3.6% increase in the real net wages and salaries.

Compared to the corresponding period of 2015, in the 2nd quarter of 2016 gross wage and salary fund increased by 5.3% or 95.4 mln euros, but number of salaried workers in the country (at full time-units) grew by 1.9 or 13.9 thousand.

In the 2nd quarter of 2016, just like in the previous year, the highest average wages and salaries were recorded in financial and insurance activities, information and communication, as well as energy sector, whereas the lowest wages and salaries were observed in accommodation and food service activities, other service activities, education, arts, entertainment and recreation, and trade.

Compared to the 2nd quarter of 2015, in the 2nd quarter of 2016 average gross wages and salaries rose in all sectors except for professional, scientific and technical activities as well as transportation and storage indicating a decline of 0.8% and 0.6%, respectively.

Greater increase was recorded in water supply; sewerage, waste management, and remediation activities (of 10.0%), administrative and support service activities (of 7.9%) that was influenced by the rise in irregular bonuses. During the year, regular wages and salaries in the sectors rose by 5.2% and 6.1%, respectively.

The increase exceeding the national average was observed also in public administration (of 4.7%), financial and insurance activities (4.5%), manufacturing (4.0%) and information and communication (3.6%). Wage and salary increase in other sectors was comparatively smaller – from 1.4% to 3.2% during the year.