Wage growth rates outpace inflation in country

11 September 2018 13:08 (UTC+04:00)

By Kamila Aliyeva 

The average monthly nominal wage of hired workers in Azerbaijan increased by 3.7 percent in past seven months compared to the same period in 2017 and amounted to 542.3 manats.

Annual inflation in January-July 2018 was fixed at the level of 2.8 percent, thus, wage growth significantly exceeded the growth of prices in the consumer market, according to official statistics. Moreover, the average wage also exceeds the approved living wage of 2018 by three times.

The average monthly salary was exceeded by wages in the extractive industry, financial and insurance sectors, scientific and technical activities, information and communication, construction, transport and warehousing, the State Statistics Committee said.

As of August 1, 2018, in comparison with the same period of the previous year, the number of employees in the national economy increased by 1.2 percent to 1.543 million people, of which 881,800 work in the public sector, and 661,300 - in the private sector. Thus, the state continues to be the main employer, providing 57.1 percent of population with work.

The largest number of them is involved in the education sector - 21.3 percent, trade - 18.8 percent, industry - 13.3 percent, health and social services - 8.5 percent, public administration and law enforcement - 7 percent, construction sector - 7.2 percent, transport and warehousing - 4.6 percent, professional, technical and scientific areas - 3.4 percent, agriculture, forestry and fisheries - 3.2 percent, financial and insurance sectors - 1.6 percent and 11.1 percent is working in other sectors of the economy.

The subsistence level in Azerbaijan for 2018 was increased to 173 manat from 155 manats in 2017. According to the main socio-demographic groups of the population, the level of the subsistence level for 2018 is as follows: for the able-bodied population - 183 manat, for pensioners - 144 manats, for children - 154 manats.

---

Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

Follow us on Twitter @AzerNewsAz