Average wage growth slows significantly in 3Q

The average gross monthly wage in the Czech Republic in the third quarter of this year rose by 5.7 percent to 37,499 crowns, the Czech Statistics Office reported.  In real terms, taking into account inflation the average wage only rose by 1.5 percent. The median wage, a midway between the highest and the lowest levels, was CZK 32,979. Two-thirds of Czechs earn less than the average wage. Due to pandemic-related economic problems wage growth slowed significantly when compared to the second quarter when wages rose by 11.3 percent year-on-year.