The average Czech salary has climbed to more than 30,000 crowns per month for the very first time, according to new Q4 2017 data recently released by the Czech statistical office.
Average monthly earnings in the Czech Republic exceeded expectations and rose nearly 8% year-on-year to 31,646 crowns per month, an increase of 2,337 crowns over the same period in 2016.
During the same period, prices of consumer goods only rose 1.8%.
“The growth in earnings was driven by rising labor demand as well as strong economic growth,” said Dalibor Holý, Director of the Labor Market Statistics Department of the Czech Statistical Office, in a press release.
Unemployment in the Czech Republic is also currently at a record low.
Expectedly, the highest salaries were seen in Prague, where monthly wages neared 40k at an average of 39,173 crowns. The lowest average salary was seen in the Karlovy Vary region, at 27,810 crowns per month.
Among fields of employment, the highest monthly wages were seen in the IT sector at 52,530 crowns per month. That was followed by the finance and insurance (52,156 crowns) and energy (43,344 crowns) sectors.
The lowest average salaries were seen in the agriculture (23, 713 crowns), administration (19,483 crowns), and accommodation and boarding (17,509) sectors.
Because high salaries in some sectors and certain positions can inflate the overall mean earnings, a median salary often gives a better impression of what the average worker makes. Roughly two-thirds of the Czech populace is making less than the average salary quoted above.
The median salary across the Czech workforce has also significantly risen, however: at 27,320 crowns per month by the end of 2017, it is 8.9% higher than the previous year.
The median salary for men was 29,639 crowns per month by the end of 2017, while for women it was 24,790 crowns.