Average wage rose 6.6% to €1,524 in 2024

The average wage in the Slovak economy rose by 6.6% in nominal terms to €1,524 last year and grew by 3.7% in real terms after taking inflation into account, ŠÚ reported. In 2022-23, due to high inflation, real wages fell. In the last quarter of last year, the average wage was €1,643, and €1,975 in Bratislava. However, real wages were still 2% below the 2021 peak at the end of last year.

                    The unemployment rate fell to an all-time low of 5.3% at the end of last year, based on ŠÚ methodology. Employment, on the other hand, rose to an all-time high of 78.8%.  

                    Analysts expect nominal wages to grow by 5.5% this year, which, with an expected inflation rate of 4%, gives real wages growth of 1.5%.

(statistics.sk, teraz.sk, teraz.sk, dennikN.sk)