The impact of the pandemic on the labor market was smaller than expected, statistics said. The increase in the average wage was thus similar to last year. However, according to the CZSO, the data for this year’s first quarter were significantly affected by the reduction in the number of employees. The volume of wages increased by 1.7 percent, while the number of employees decreased by 1.4 percent.
In the first quarter of last year, the average wage rose by 3.8 percent year on year, in the fourth quarter by more than five percent. Economists expected a slowdown in wage growth. According to them, the abolition of the super-gross wage has had an effect since the beginning of this year, when people’s earnings rose even without an increase in gross wages, as well as the coronavirus pandemic, when many people received wage compensation or nursing.
On the other hand, according to analysts, the deferred payment of annual bonuses, which some companies delayed until the new year due to the abolition of the super-gross wage, could improve the average wage. “Thanks to a change in the tax system, the net wages of employees have increased this year, even though their employers have not increased their gross wages. This supports the growth of the living standards of employees without increasing the wage costs of companies, “added the chief economist of BHS Štěpán Křeček.
–
–
Compared to the previous quarter, the seasonally adjusted average wage increased by 0.6 percent in the first quarter of this year.
The median wage, ie the average value of wages, increased by 2.5 percent year-on-year to 29,867 crowns. It was 32,235 crowns for men and 27,237 crowns for women.
As the chief economist of Trinity Bank Lukáš Kovanda pointed out, the data testify to the opening of the income scissors. While part of the population has practically not affected the pandemic from an economic point of view, others are feeling the effects significantly. “Although the vast majority of these people do not lose their jobs right away – largely due to government-funded debt programs such as Antivirus – they are experiencing significantly weaker growth or even a decline in their standard of living,” says Kovanda.
– .
