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Average Wages Approach 50,000 as Czech Republic Sees Economic Growth
The Czech Republic’s average wage has reached a new milestone, climbing to 49,229 CZK in the fourth quarter of last year. This represents a year-over-year increase of 7.2 percent, or 3,322 CZK, according to the Czech Statistical Office. More importantly, real wages – what people can actually buy with their money – grew by 4.2 percent after accounting for inflation, marking the fourth consecutive quarter of real wage growth.
The year 2024 proved particularly strong for wage growth, with inflation at 2.4 percent and nominal wage growth at 7.1 percent, resulting in a real wage increase of 4.6 percent, as reported by Jitka Erhartová from the Czech Statistical Office.
However, regional disparities paint a more complex picture. Prague leads with an average monthly salary of 59,870 CZK, while regions like Karlovy Vary (42,284 CZK), Pardubice (45,385 CZK), and Zlín (44,773 CZK) lag significantly behind, highlighting growing socioeconomic divisions.
The highest wage growth was observed in real estate (16%), professional and scientific activities (12.2%), and hospitality sectors (10.3%). Despite this positive trend, economists note that Czech employees still have ground to cover, with real wages currently matching late 2018 levels and remaining 7.3% below their peak from the second quarter of 2020.
Looking ahead to 2025, while real wages are expected to continue growing, the pace is likely to slow down as company profit margins, which previously enabled significant raises, begin to shrink.
Created by the team of CzechTrade
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Source: Czech Daily
