Analyst: Real Salaries Could Rise by Average of 2-2.5 percent This Year

Bratislava, 12 November (TASR) - If growth in revenues is confirmed in the upcoming months with stable inflation, real salaries could go up by an average of approximately 2-2.5 percent in 2025, with employment remaining almost unchanged or declining slightly by up to 0.5 precent, analyst at 365.bank Tomas Bohacek stated on Wednesday when commenting on the data on average salaries and employment in September published by the Statistics Office. "Conversely, pressure on the labour market could ease in the event of a further recovery in industrial production and continued growth in construction activity, which is currently the most productive segment of the economy. Meanwhile, we expect real salaries to grow at their slowest pace in three years next year, at a rate of up to 0.5 percent," said the 365.bank analyst. The Statistics Office reported on Wednesday that nominal monthly salaries increased year-on-year (y-o-y) in all ten monitored sectors in September, with the rate of growth ranging from 1.4 percent in selected market services to 9.8 percent in both the construction sector and in pubs and restaurants. When considering inflation, real salaries increased y-o-y in seven of the ten sectors, with the most rapid growth of over 5 percent observed in pubs and restaurants and in the construction sector. Increases in the remaining sectors ranged between 0.6 percent in wholesale up to 3.9 percent in information and communications. am/df