After peaking at 17.7% year on year in August, gross wage growth slowed to 13.6% and 12.3%, respectively, in September and October. The higher tax burden, starting with the introduction of an increased rate of social contributions in January 2010, depressed net wage growth, which decelerated from 9.3% year on year in August to 4.6% in October. Viewed by sectors, net wages have been rising the fastest in mining and quarrying, where they increased by 25% year on year in October, and accelerated markedly in manufacturing, from 0.5% in June to 19.2% in October. The thriving energy and catering sectors also produced double-digit increases in net wages on a year-on-year basis in recent months. In contrast to these increases, net wages in financial intermediation declined by 4.9% in October, and there was a similar contraction in most public sectors, including the state administration and health and social care.

The average monthly wage in the first ten months of 2010 amounted to EUR475, up by 2.8% on the same period last year. Employees in financial intermediation were the best-paid, with a net wage that was 84% higher than the average, while those working in the energy sector, mining and quarrying, and transport and communications were paid, respectively, 44%, 36% and 30% more than the average. The lowest-paid were employed in fishing, retail trade and catering, with wages corresponding to 37%, 62% and 76.2% of the average, respectively.

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