Net wage in Romania surges by real 8.9% y/y in July

The average net wage in Romania rose by 14.8% y/y to RON 5,242 (EUR 1,054) in July after the 13%-14% y/y growth rates in Q1 and Q2 this year, according to the data published by the statistics office INS.

In real terms, the average net wage surged by 8.9% y/y – the steepest annual advance since 2019 except for an outstanding reading in April 2021 (one year after the COVID-19 lockdown created low-base effects).

"The increase in the average net salary, reflected in the July figures, indicates a moderate and constant growth trend this year. The factors that could influence this dynamic are global economic fluctuations, inflation, labor demand in key sectors, and fiscal policies", commented Cătălin Ciupag, branch manager, Prohuman Romania, quoted by Ziarul Financiar.

The sharpest wage hikes were seen in July in the sectors of oil refining (+38% y/y), where the average net wage topped RON 13,000 (EUR 2,600). The wages rose by 25% y/y or close in industries such as oil and gas extraction (RON 10,400), related activities (RON 8,700), chemistry (RON 5,500), pipeline petroleum products transportation (RON 4,700), and HoReCa (RON 3,200).

In the budgetary sector (public administration, education, healthcare), the wages rose by 17%-20% nominally and well above 10% y/y in real terms.

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