NewsMontenegro, Average earnings without taxes and contributions increased by 0.8% compared to...

Montenegro, Average earnings without taxes and contributions increased by 0.8% compared to the same period last year

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Average earnings without taxes and contributions in December amounted to EUR 727 and increased by 0.8% compared to the same period last year, Monstat data show.

The average gross salary was EUR 900, which is 35.4% more compared to the same month in 2021. Monstat also states that the average gross salary in the fourth quarter recorded an increase of one percent compared to the third. At the level of 2022, the average gross salary was 883 EUR, while the average net salary was 712 EUR.

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– If it is taken into account that in 2022, compared to 2021, consumer prices recorded a growth of 13%, it follows that real wages for the same period recorded a growth of 18.4% – they state from Monstat.

Monstat data show that the highest salaries in the amount of EUR 1,201 were earned by employees in the finance and insurance sector. Employees in the electricity, gas, steam and air conditioning sector also had salaries above EUR 1,000. They received EUR 1,127 in December. With a salary of EUR 902, employees in the mining and quarrying sector were in third place in terms of income. On the other hand, the lowest wages are earned by employees in the administrative and auxiliary service sectors – EUR 571, as well as in the processing industry sector, who received an average of EUR 591 in December.

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By sector of activity, average earnings without taxes and contributions in December last year compared to the previous month recorded growth in the sectors of electricity supply, gas, steam and air conditioning 3.8%, state administration and defense: mandatory social insurance 2.4 %, accommodation and food services 2.2%, and wholesale and retail trade; repair of motor vehicles and motorcycles 1.8%. Growth was also achieved in the areas of real estate business 1.8%, professional, scientific and technical activities 1.8%, artistic entertainment and recreational activities 1.6%, water supply; waste water management, process control; waste removal and similar activities 1.1% and other service activities (1.1%).

The areas In which net wage growth was recorded were agriculture, forestry and fishing, as well as education by one percent each, financial and insurance activities by 0.8%, construction by 0.3% and health and social protection by 0.2%.

– The drop in the average net salary was recorded in the mining and quarrying sectors by 2.8%, manufacturing industry by 1.7%, administrative and auxiliary service activities by 1.7%, information and communications by one percent and transport and storage by 0.7%.

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