The average nominal monthly salary in Slovakia amounted to €1,520 in the second quarter of this year, up by 7.1 percent, or €101 year-on-year (y-o-y), the Statistics Office reported on Tuesday.
Meanwhile, real salaries rose by 4.9 percent y-o-y in the second quarter. The seasonally adjusted average nominal salary grew by 1.2 percent when compared to the first quarter of 2024.
"The growth pace eased from the previous quarter for the second time in a row. Despite this, the still relatively significant increase in nominal salaries combined with falling inflation contributed to the fact that the real salaries of Slovaks increased for the third consecutive quarter," said the office.
All monitored sectors of the economy but the real-estate sector posted y-o-y growth in both nominal and real salaries. People employed in the education, industrial manufacturing, financial and insurance sectors enjoyed the most rapid growth in real salaries.
Eighteen of the 19 monitored sectors of the economy posted y-o-y growth in average nominal salaries. The salary growth ranged between 3.1 percent in administration and 14.1 percent in education. The real-estate sector was the only one to fail to resist inflation and post a y-o-y decline in nominal salaries.
The sectors employing the highest numbers of people in Slovakia, industrial manufacturing and trade, reported a deceleration in salary growth in the second quarter of this year. Despite this, industrial manufacturing, the biggest employer in the country, maintained 9.3-percent growth in salaries, which is the second biggest increase among the monitored sectors. Nominal salaries in industrial manufacturing amounted to €1,633 per month, while real salaries grew by 6.7 percent. Nominal salaries in trade, the second biggest employer, rose by 4.8 percent to €1,421, while real salaries in the sector went up by 2.6 percent.
Those engaged in the financial and insurance sector, as well as those in the IT sector had the highest average nominal monthly salary, exceeding €2,500. Meanwhile, 11 sectors reported salaries lower than the average. Employees in the hospitality sector had the lowest average nominal salary of €862 per month, while those engaged in other activities earned €952. These were the only two sectors in which the average gross salary failed to exceed €1,000.
Bratislava region with €1,836 was the only region to post monthly salaries higher than the national average.
The average nominal monthly salary for the first half of 2024 amounted to €1,484, up 8.1 percent y-o-y, while real salaries grew by 5.3 percent.
Source: TASR
