Prague - Czechs are trying to catch up with Europe in terms of earnings. While the average wages of Europeans grew by 8 percent, the wages of Czechs increased by 41 percent in the past seven years.
But the average hourly wage has been stagnating in this country, unlike in other countries across Europe.
The Danes enjoy the highest hourly wages, which are sometimes 533 times higher than those in the Czech Republic. Denmark is followed by Ireland and United Kingdom.
Read more: Czechs are the new rich kids on the East Block
Huge gap
In Q2 2008, wage differences between industries increased markedly compared with the same period in 2007.
The average monthly wage in Q2 was CZK 23,182, which is CZK 1,718 higher (8.0%) in comparison with the same period of 2007.
In the long term, the highest average nominal wages are reached in financial institutions (CZK 40,185). The lowest wages (CZK 15,001) were recorded in the household sector (i.e. wages of employees employed by unincorporated individuals).
Bulgarians worst off
Bulgaria reported the worst hourly wage.
"On average, they earn CZK 35 per hour, which is 30 percent of the Czech average wage," says the analysis of the Czech Statistical Office.
Since 2000 the Czech nominal wages have risen up to 117.4 from 71.3 (65%).
More in the Baltic states
Slovakia saw a similar development in wages; average wage increased by 84 percent up to Sk 130.4.
The Baltic states, however, are doing much better. In Latvia the average wage has grown by 86 percent since 2000, in Estonia by 74 percent and in Lithuania by 57 percent. Romania, surprisingly, saw a 80 percent growth.
