Stats: Average Nominal Salary Up 6.6 percent Y-o-Y to €1,524 in 2024

Bratislava, March 4 (TASR) - The average nominal monthly salary in Slovakia for the whole of 2024 reached €1,524, up 6.6 by percent, or €94 year-on-year (y-o-y), the Statistics Office reported on Tuesday. Although the pace of salary growth slowed down, it was still high enough for salaries to show real growth as well. Following two years of falls, real salaries rose by 3.7 percent last year, which was the highest real salary growth seen since 2019. This can mainly be ascribed to a significant drop in inflation in 2024 (to 2.8 percent) combined with a persistent and still sufficiently dynamic increase in earnings. Both nominal and real salaries grew in 18 of the 19 monitored sectors last year, with the slowest growth being posted in the construction sector and the most significant in electricity, gas and steam distribution. The real-estate sector was a only one to record a y-o-y decline in salaries last year. Real-salary growth of over 5 percent was reported in eight sectors, with electricity, gas and steam distribution and the education sectors seeing the most significant increases. Among the sectors with the biggest workforces in 2024, industry maintained high nominal salary growth of 8.5 percent to reach €1,639. The highest average nominal salaries exceeding €2,500 were reported in financial and insurance companies, in electricity, gas and steam distribution and in IT. Employees in eight sectors received salaries higher than the national average. Employees engaged in the hospitality sector had the lowest earnings in 2024 as well, with the average salary amounting to just €889. This was the only sector to fail to exceed the threshold of €1,000. There were still significant regional differences in salaries in Slovakia last year. Although salaries have been growing gradually in all regions, they are still highest in Bratislava region (€1,858). ko/df