Average nominal monthly salaries grew in all sectors of the economy in October 2022, with growth ranging from 3 percent in pubs and restaurants up to 14 percent in accommodation and construction, the Statistics Office reported on Tuesday. However, high inflation has meant that real salaries have posted a year-on-year (y-o-y) fall in nearly all sectors. The staff of pubs and restaurants were hit hardest, as their real monthly salaries declined by 10.4 percent in October. Real salaries decreased by 7 percent and more in wholesale, the IT sector, the sale and repair of motor vehicles and selected market services. Accommodation and construction reported growth, but of less than 1 percent.
In the January-October period, nominal monthly salaries in individual sectors of the economy grew between 5-19 percent y-o-y. Accommodation was the only sector to resist the high inflation rate, as real monthly salaries within this sector grew by more than 6 percent. The remaining nine sectors posted drops in real salaries, with the most significant ones seen in selected market services and in the IT sector. Industry, employing the highest number of people (more than 0.5 million), showed a decline of 3.6 percent in real salaries. (TASR)
