Czech Republic, Poland, Slovakia & Bulgaria
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One-stop shop for your property Czech Republic, Poland, Slovakia & Bulgaria |
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International Property NewsCzech hourly wage up by 41% since 200022nd Sept2008 Average hourly wage has increased by 41 percent in real terms in the Czech Republic in the past 7 years, while the average growth in the EU reached 8 percent, says an analysis of the labour market between 2000 and 2007 published by the Czech Statistical Office (CSU) Friday. Czech average hourly wage is much lower than in the Western European countries on the one hand, but on the other it is higher than in most countries that have joined the EU since 2004, the CSU said. Average nominal hourly wage has grown in the Czech Republic from Kc71.3 to Kc117.4 or by 65 percent in the said period. The nominal growth in euros is higher amounting to 111 percent owing to the firming crown. The wage in euros has risen from EUR2 to EUR4.23. The Czech crown currency has strengthened by 28 percent since 2000. A similar situation is in Slovakia, according to the analysis. Slovak hourly wage has grown by 84 percent on average from Sk70.8 to Sk130.4, which is a growth of 132 percent in euros. Czech real wage growth is bigger than in the neighbouring countries, the analysis said. "Average wage in the Czech Republic makes up 25 percent of the German level, while in 2000 it was only 14 percent," CSU chairman Jan Fischer said. Denmark had the highest hourly wage in the EU last year making up 533 percent of the Czech average, followed by Ireland and Great Britain. Bulgaria, in contrast, registered the lowest average hourly wage accounting for only 30 percent of the Czech average, the CSU said. Staff numbers have grown at a record pace in recent years, according to statisticians. The Czech Republic registers more than 5 million people who are employed or involved in business activity nowadays. At the end of last year around 310,000 foreigners worked in the country, double the amount registered in 2000. Around 110,000 Slovaks are employed in the country, followed by Ukrainians (80,000) and Vietnamese (30,000). The average age of a domestic employee has increased by 1.5 years in the past seven years to 40.7 years for men and 41.2 years for women. Average wage which, however, is not earned by around two-thirds of employees rose by 8 percent yr/yr to Kc23,182 in the second quarter this year. The method of calculation of the average wage will change next year, said Fischer. Small companies with up to 20 staff will start to be included in the quarterly statistics. Their number is growing and their staff pay is lower as a result of which the average wage will be lower than in the previous statistics, Fischer said. Under the current method, the average wage for Q2 stands at Kc23,182, while under the new method it would reach Kc22,426. For comparison, statistics using the current method of calculation will also be published by statisticians next year. These statistics only include companies with 20+ staff. Starting in 2010, only data for the entire economy will be released, said Fischer. Estimates of average hourly wage in EU countries (in Kc):
Source: Prague Monitor |
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