Average wage increases, but real wages still stagnant

04-12-2013

The average monthly salary increased by 322 crowns in the third quarter to 24,836 crowns. Adjusted for inflation, this is an increase of only a tenth of a percentage point, which basically signifies a stagnation of wages. Around two thirds of people employed in the Czech Republic, though, receive a lower salary than the average, with the median being currently around 21,000 crowns. Long-term stagnation and slight decreases in real wages is leading to a decrease of household spending, which the Czech National Bank was hoping to thwart with its recent intervention against the crown.