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Issue 82: Average monthly remuneration of employee - I-II Quarters, 2016

17-Oct-2016

 

Average monthly remuneration of employees - 2016, I-II Quarters
Issue  #82 / 18.10.2016

In the first half of 2016, compared to the corresponding period of 2015:

• Average monthly remuneration of employees increased by 5.4%.
• The highest growth in average monthly remuneration of employees was recorded in construction (12.9%) and fishing (22.7%).
• The highest paid sector is still financial services but the wages in public administration remain high compared to the average monthly remuneration across the board.
• Average monthly remuneration for male is 37% more than the same indicator for female.

 

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 Source: National Statistics Office of Georgia

 

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Source: National Statistics Office of Georgia

 

In the first half of 2016, the average monthly remuneration of employees increased (5.4%, 48.5 GEL) compared to the corresponding period in 2015. In the first quarter of 2016, the average monthly remuneration of employees increased by 6.7%, while in the second quarter the growth rate in wages fell and amounted to 4.3%.

 

In the first half of 2016, average monthly remuneration of employees increased in all sectors, except real estate (-2.8%, -31.0 GEL) and agriculture (Q1: -26.4%; Q2: -4.6%). The highest increases in average monthly remuneration were recorded in the construction industry (12.9%, 157 GEL) and in fishing (22.7%, 152 GEL).

 

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Source: National Statistics Office of Georgia
 

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Source: National Statistics Office of Georgia

 

In the first half of 2016, the highest average monthly remuneration of employees in the non-business sector  was recorded in financial services (1856.6 GEL), public administration (1350.8 GEL) and health and social work (942.8 GEL). In the non-business sector, the lowest wages were recorded in education (505.1 GEL).

 

In the first half of 2016, the highest average monthly remuneration of employees in the business sector was in construction (1387.0 GEL), transport and communication (1204.2 GEL) and mining (1191.5 GEL). In the business industry, the lowest wage was recorded in agriculture (542.1 GEL).

 

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Source: National Statistics Office of Georgia

 

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Source: National Statistics Office of Georgia

 

Average monthly remuneration of employees in agriculture, in both the business and non-business sectors, was marked by volatility. In 2012, the wages in the business sector were higher, than in non-business sector. While in 2013–14 the situation changed and wages in the non-business sector increased. Since 2015, the difference between average monthly remuneration of employees in non-business and business sectors reduced and in the first quarter it equalled 53.6 GEL, while in the second quarter it was 68.5 GEL.

 

In education, average monthly remuneration in the business sector is always higher than in the non-business sector. The difference between average monthly remuneration of employee in non-business and business sectors fell significantly in 2014, but has since increased again and in the first quarter of 2016 the difference was 74.5 GEL, while in the second quarter it reached 90.1 GEL.

 

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Source: National Statistics Office of Georgia
 

 

 

 

 

In the first half of 2016, average monthly remuneration for male employees was higher than for female employees. In this period, the average monthly remuneration of male employees equalled 1140 GEL, and for females, this was 721 GEL, 37% lower than male’s remuneration.

 

In the first quarter of 2016, the growth rate of average monthly remuneration of male and female employees was 7.0%. For female employees, this trend continued in the second quarter (7.0%), but in the case of male employees, the growth rate reduced to 3.0%.

 

 

 

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        Source: Ministry of Finance of Georgia                                                                                                                                           * Forecasted 
                         National Statistics Office of Georgia
                         National Bank of Georgia                              

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