Past quarter’s average monthly wage growth is lowest percentage in ten years
During the first quarter of 2010, the average monthly wage in the Czech Republic increased by only 2.2 percent, the smallest growth in the past 10 years. Taking into account inflation, this amounts to an actual increase of about 1.5 percent, equaling 500 crowns or roughly 20 euro. According to information released by the Czech Statistical Office on Monday, Czechs earned an average of 22,748 crowns or around 800 euro a month during the first quarter of 2010. An increase in unemployment and the fact that the economy has not yet fully recovered from the global financial crisis were cited as factors of this low growth in average monthly wages.