Trade unions to demand 6-7 pct rise in average salaries

Trade unions will demand at 6-7 percent rise in average wages this year, according to Josef Středula, head of the Czech-Moravian Confederation of Trade Unions.

In an interview with published on Sunday, Středula said that despite an expected slowdown, Czech companies can afford pay hikes. If wages stagnate, he said, the entire Czech economy – half of which is driven by consumption – is at risk.

Czech GDP in real terms has already exceeded 90 percent of the European Union average, yet Czech wages are at around 30 percent of the European average in nominal terms, Středula said.

Author: Brian Kenety