Wages in sectors in Slovakia continued to grow dynamically in April, but half of them recorded a decrease in employment

June 21, 2024

Real wages in all 10 monthly monitored sectors increased compared to last year, in half of them the growth rate exceeded 7%. The wages of employees in transportation and storage increased the most, by up to a tenth. While half of the sectors recorded a decrease in the number of employees, employment increased by more than 4% in three sectors.

The average nominal monthly wage^1,2) increased year-on-year in all 10 monthly monitored sectors in April 2024. It rose at a double-digit rate in only four of them, namely in transportation and storage by 12.3%, in food and alcoholic beverage service activities by 11.5%, and in industry and retail trade, its growth exceeded 10%. For the second consecutive month, all selected sectors also recorded an increase in real wages, ranging from 0.6% in accommodation to 10% in transportation and storage. A significant wage growth above 7% was exceeded by the food and beverage service activities, industry, retail trade and construction.

In the first four months of 2024, both nominal and real wages rose in all 10 monthly monitored sectors. A double-digit growth rate of nominal wages above 10% was recorded by industry, transportation and storage, retail trade and food and beverage service activities. The real wage growth ranged from 1.5% in information and communication to 8.3% in industry.

Year-on-year development of employment

Employment^2,3) increased year-on-year in 4 of the 10 monthly monitored sectors in April 2024. Increases in the number of employees above the level of 4% were recorded in the sectors of accommodation, selected market services and information and communication. Employment also grew by 2.5% in construction. Industry continued to record a long-term decline in employment, currently by 2.2%. Lower number of employees than last year also worked in transportation and storage, in wholesale and retail trade, and also in food and beverage services activities. Employment did not change year-on-year in sale and repair of motor vehicles.

From January to April 2024, employment grew in 6 out of 10 sectors, the fastest in selected market services by 4.6%. Industry, wholesale, retail trade, as well as transportation and storage recorded year-on-year lower numbers of employees.

Source: Statistical Office of the Slovak Republic
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