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Thursday, November 7, 2024
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Montenegro’s September salary trends: Average net earnings rise alongside sector growth

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In September, the average salary before taxes and contributions in Montenegro reached 877 euros, marking a 1.9% increase compared to August, according to Monstat data. The average net salary saw a notable rise of 9.6% compared to the same month last year, while the average gross salary was 1,100 euros.

Considering that consumer prices dropped by 0.4% from August to September, real wages increased by 2.3% during the same period.

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By sector, the average salaries before taxes and contributions showed growth in September across various fields. The agriculture, forestry, and fishing sector experienced a 7.7% increase, followed by education at 7.2%, and financial and insurance activities at 2.8%. The arts, entertainment, and recreation sector grew by 2.7%, while real estate activities rose by 2.3%. The supply of electricity, gas, steam, and air conditioning, as well as administrative and support service activities, both saw increases of 2.2%.

Other sectors that reported growth include accommodation and food services at 1.8%, wholesale and retail trade; repair of motor vehicles and motorcycles at 1.6%, and professional, scientific, and technical activities at 1.2%. The mining sector increased by 1.1%, while the manufacturing and construction industries rose by 0.6%. Transportation and storage, as well as information and communication sectors, each reported a 0.4% increase, and public administration and defense with mandatory social security rose by 0.3%.

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However, there was a decline in the average net salary in September compared to the previous month in specific sectors: water supply and wastewater management decreased by 1.2%, other service activities by 0.8%, and health and social care by 0.1%.

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