Czech nominal wage likely to grow 7.3 pct in 2017 and 8.2 pct in 2018 – Erste Group Research

Nominal wage in the Czech Republic is expected to grow 7.3 percent and 8.2 percent in this year and next year, respectively, noted Erste Group Research in a report. The favorable economic development and extremely low jobless rate are mainly driving this development.

Furthermore, the low jobless rate and high demand among companies for new available employees are causing high wage growth to occur in all significant sectors of the economy. The employees’ bargaining power is at present possibly the highest in the modern era. Moreover, the salaries’ growth of state employees are expected to come in at 10 percent next year, as approved shortly before the parliamentary elections, added Erste Group Research.

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