According to the Czech Statistical Office, average monthly gross wage in 2016 grew to 27,589CZK, a 3.5% growth year-on-year in real terms. Nominal wage growth reached 4.2%. Analysts expected better results in real wage growth. It means that wages have been growing nominally, but due to the rising inflation rate, real wage growth has slowed down.
At the national level, median wage increased by 6% in 4Q 2016 to 25,061CZK, with wages in the low-income occupations growing faster than in the high-income occupations. The trend in median wage growth in 2016 is positive, according to ČSOB chief economist Petr Dufek, who adds that due to the lack of workforce on the Czech labour market, median wage could grow by 6% in 2017. Read more in Czech.
The infographic shows monthly average gross wage in 14 Czech regions in the fourth quarter of 2016.