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Czech employees are suffering from a decline in their real wages – Are they entitled to be paid more?

Author

Listed:
  • Vendula Hynková

    (Ambis University)

  • Renata Skýpalová

    (Ambis University)

  • Veronika Hedija

    (Masaryk University)

Abstract

The article deals with development of the average gross monthly nominal and real wages in individual regions and nationally in the Czech economy during the 2011 – 2022 period, with focus on 2022, the year of galloping inflation in the Czech Republic. It examines differences between average gross monthly real wages in individual regions of the Czech Republic and the national average of gross monthly real wage in 2022 There will be a discussion on how to raise the standard of living of households again, about the possibilities of economic policy and the circumstances and consequences of increasing nominal wages. The article presents development trends of the average gross monthly nominal, real wages, and the price level for the following years 2023 and 2024. In addition, the article reveals to which year in the past the household standard of living fell, according to the development of the average gross monthly real wages, at the national level and in Czech individual regions.

Suggested Citation

  • Vendula Hynková & Renata Skýpalová & Veronika Hedija, 2023. "Czech employees are suffering from a decline in their real wages – Are they entitled to be paid more?," Littera Scripta, VSTE, vol. 16(2), pages 65-78, December.
    • Handle: RePEc:rsg:littra:2023-012
    DOI: 10.36708/LS.2023.I02.005
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    References listed on IDEAS

    as
    1. Tobias Broer & Per Krusell & Erik Öberg, 2023. "Fiscal multipliers: A heterogenous‐agent perspective," Post-Print halshs-04353223, HAL.
    2. Tobias Broer & Per Krusell & Erik Öberg, 2023. "Fiscal multipliers: A heterogeneous‐agent perspective," Quantitative Economics, Econometric Society, vol. 14(3), pages 799-816, July.
    3. Mr. Niels-Jakob H Hansen & Mr. Frederik G Toscani & Jing Zhou, 2023. "Euro Area Inflation after the Pandemic and Energy Shock: Import Prices, Profits and Wages," IMF Working Papers 2023/131, International Monetary Fund.
    4. Szwacka-Mokrzycka Joanna & Marzena Lemanowicz, 2023. "The Influence of Inflation on the Economic Situation of Households in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 119-132.
    5. Tobias Broer & Per Krusell & Erik Öberg, 2023. "Fiscal multipliers: A heterogenous‐agent perspective," PSE-Ecole d'économie de Paris (Postprint) halshs-04353223, HAL.
    Full references (including those not matched with items on IDEAS)

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