January wage increases turned out to be slightly more modest than economists had expected. Central Bureau of Statistics data shows that after taking into account very high CPI inflation, real wage growth has fallen close to zero. On the other hand, the number of employees has increased significantly.
Average gross salary in large non-financial companies In January, it totaled 6,064.24 PLN It was nominal (ie, excluding inflation) Q 9.5 percent higher than last year –
Notify the Central Bureau of Statistics. On the other hand, compared to the record-breaking December, the national average” decreased by 8.7 percent.
Economists expected a 10.1% year-over-year increase in average wages after that The December data surprised strongly with wage growth of up to 11.2% year over year. It is worth noting that the December statistics were probably overestimated due to the tax changes included in the “Polish system”. Tax changes beginning January 1 could cause a shift in the payment of bonuses, benefits and other allowances to avoid being taxed while increasing fees to the National Health Fund. In addition, statistics for the month of December were boosted, among other things, by bonus payments in the mining industry and an extraordinary increase in wages in the headline “Agriculture, Forestry, Hunting and Fishing”.
|Average monthly salary has increased In the Institutions Sector by Types of Public Key Directory Activity 2007|
|in PLN||Annual change|
|Information and contact||10 355.97||7.2%|
|Energy, gas and heating||8735.60||3.6%|
|Professional, scientific and technical activity||8 640.66||10.2%|
|Agriculture, forestry, hunting and fishing||8,010.16||12.1%|
|Mining and Quarrying||7,768.73||10.0%|
|Real estate market services||6164.37||9.2%|
|Car trade and repair||5,854.15||10.7%|
|Water supply, sanitation and waste management||5418.66||7.4%|
|Culture, Leisure and Recreation||5 338.20||16.1%|
|Transportation and warehouse management||5285.38||8.9%|
|Management and support activities||4,738.93||8.4%|
|Other service activities||4,685.88||5.5%|
|Accommodation and gastronomy||4,461.01||16.8%|
|Source: Central Bureau of Statistics.|
It is also worth considering the effect of very high inflation, which “eats up” most of the increase in average wages. In January, CPI inflation was 9.2%. Subsequently The real annual growth rate of the median wage in the business sector was less than 0.3%.. This is the lowest result since June 2020. This means that average wage growth is barely in line with inflation. It should also be added that not all employees receive wage increases. According to the “Labour Market Monitor” of the Randstad Research Institute More than half of the employees announced that they did not receive a bonus last yearAlthough average wage growth was close to 10%.
At the same time, it is worth remembering that the above amount is the salary before deduction of employment taxes (social security contributions and personal income tax advances). In fact, what matters is how much the employee will have “on hand” and how much the so-called employer will cost – This can be calculated using the Bankier.pl salary calculator.
What are statistics and how does the Central Bureau of Statistics calculate them?
In addition, this report covers only non-financial companies with more than 9 employees. Thus, these statistics cover less than 40 percent. Action. In addition, we also know from other studies that about two-thirds of employees are underpaid than the so-called national average.
The CSO publishes a report on average wages that describes the reality of the Polish labor market a little better every two years. The latest data was released to the public at the end of November and related to the country as of October 2020. This study shows that half of the employees earned a total of 4,702.66 PLN, i.e. About PLN 3403 net (ie at hand).
The data on the basis of which the Central Bureau of Statistics calculates statistics on average wage and employment in the business sector comes from the “Report of Economic Activity” (DG-1). As part of this report, entities employing 50 or more people are examined using the full method, and entities employing 10 to 49 people – using the representative method. We wrote more about this in the article “Who earns more? Salaries in Poland – how is the Central Statistical Office calculated? [Tłumaczymy]“.
Employment surprised a lot
Employment statistics turned out to be much higher than expected. The number of workers in the business sector in January was 6,459.8 thousand. And the It was 98.2 thousand. higher than the previous month – Followed by the data of the Central Bureau of Statistics. Compared to January 2021, the number of employees It was higher by 145.7 thousand. , a 2.3% increase. Economists had expected employment growth of 1.9% year-on-year after increasing only 0.5% year-on-year in December.
|January hiring change (m/m, in thousands)|
|Source: Bankier.pl based on GUS data.|
As usual, the Central Bureau of Statistics in January changed the sample of companies from which it obtains data, which usually translates to a sharp increase in the number of employees. According to the latest data, as many as 98.2 thousand new jobs were added to the business sector in January. Posts. So it will be the best January result since 2019.
January with a significant increase in employment in the corporate sector by 98 thousand m / m (2.3% year on year), but this is the effect of the annual update of the sample by the Central Statistical Office. However, employment data has finally caught up with unemployment and both indicators show that we are back to a pre-pandemic state. pic.twitter.com/gU4ZDpZ2g2
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