The average salary in medium and large companies in July 2023 was exactly that 7 thousand total PLN 485.12 and increased by 10.4% in the year. The latest statistics from the Central Statistical Bureau show a clear slowdown in wage growth. In last month’s report, it grew by 11.9 percent. every year. At that time, the national average was 7,000. Total 335.20 PLN.
How does the latest data compare to forecasts? It’s a big job. Economists’ median forecasts suggested wage increases of 11.1%.. , which gives an amount of 7 thousand. Total PLN 531.
There was a breakthrough. What then?
Central Statistical Office data showed a month ago A breakthrough in the relationship between wage growth and inflation. Earlier, for a year, we had to deal with an unusual situation in the country, when prices in stores rose faster than wages. Thus, in real terms, the average employee was able to buy less for the salary (even after the salary increase) than in the previous year, and was thus losing out in real terms.
In June 2023, Poles again began to earn real money and get rich. Let us recall that at that time inflation was 11.5 per cent, so the real increase in average wages was about 0.3 per cent. Unfortunately, in July, with prices rising at an average rate of 10.8 percent, typical Kowalski lost again – this time 0.4 percent.
Economists’ forecasts are that it will improve over time. It should be noted that before the war and the pandemic, increases in average wages were ahead of inflation by several percent. At the beginning of 2019, it was close to 7%. difference.
They made close to $15,000 there. zlotys
“In July 2023, the average gross monthly salary in the enterprise sector in nominal terms increased by 2% compared to June 2023. This increase was caused, among other things, by continued quarterly and semi-annual bonus payments, incentives and occasional jubilee bonuses, and an increase Salaries, as well as retirement payments (which, apart from basic salaries, are also included in bonus components) ”- reads the GUS statement.
We still have to wait for more detailed statistics, but officials have already shown some numbers. “A nominal increase in the average salary compared to the previous month was recorded in almost all divisions of the Polish classification of activities, the largest of which are in the sectors of agriculture, forestry, hunting and fishing (by 51.6 percent) and in the mining and quarrying sector (by 32.3 percent).) ”- we read .
The highest average salary value in July 2023 occurred in the department Mining and quarrying (14,933.27 PLN)and the lowest in the section Accommodation and gastronomy (5,452.25 PLN).
Central Bureau of Statistics data and average available wage
Earnings reported by GUS officials are expressed in gross amounts. After taking into account contributions and taxes, The average Polish worker who works on the basis of an employment contract receives on average about 5,000. 430 zlotys.
Just over 1000 PLN is consumed from ZUS contributions (retirement, disability, illness). Another PLN 580 of the total amount is transferred to the National Health Fund and PLN 445 to the income tax advance.
You do not earn on average? Most of them have it too. The Central Bureau of Statistics (GUS) data published on Monday includes only large and medium-sized firms. Companies with fewer than ten employees are excluded. In addition, employees are not counted under mandated contracts or for a specific job. After taking it into account, the amount of the average salary will be less.
The most recent wage statistics are approximate 6.5 million people work in the business sector. In June, there were exactly 6 million 513.7 thousand. This is the part of the statistics that did not exceptionally disappoint economists’ expectations. The increase in employment was 0.1 percent. On an annual basis, it decreased by 0.2 percent. I mentioned a month ago.
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