NewsFebruary wage trends in Montenegro show varied sectoral growth

February wage trends in Montenegro show varied sectoral growth

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In February, the average net salary, excluding taxes and contributions, stood at €821, marking a modest 0.2% increase from January, as reported by Monstat. Compared to the same period last year, the average net salary experienced a more significant growth of 6.4%.

During February, the average gross salary amounted to €1,026.

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Monstat noted that despite the nominal increase in salaries, when factoring in the 0.4% rise in consumer prices from January 2024, real wages actually saw a slight decline of 0.2%.

Breaking down the data by sectors, notable increases in average net salaries were observed in professional, scientific, and technical activities (4.4%), real estate activities (4.2%), water supply, waste management, and similar services (2.8%), financial and insurance activities (2.7%), and information and communication (1.6%).

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Positive growth was also seen in sectors such as electricity, gas, steam, and air conditioning supply (1.5%), wholesale and retail trade including motor vehicle and motorcycle repair (1.2%), mining and quarrying (0.8%), agriculture, forestry, and fishing (0.5%), construction (0.5%), as well as public administration and defense including compulsory social security (0.5%).

However, certain sectors experienced a decrease in average salaries, including manufacturing (-1.9%), other service activities (-1.8%), accommodation and food service activities (-1.6%), health and social work (-1.1%), administrative and support service activities (-0.9%), transportation and storage (-0.5%), education (-0.4%), and arts, entertainment, and recreation (-0.1%).

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