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NewsJanuary 2024: Examining salary trends and sectoral shifts in Montenegro

January 2024: Examining salary trends and sectoral shifts in Montenegro

The average salary without taxes and contributions in January was 819 EUR, recording an increase of 0.6% compared to December and 8.2% compared to the same month last year.

According to the data from Monstat, the average gross salary was 1,024 EUR.

Considering that consumer prices in January 2024 increased by 0.5% compared to December 2023, it follows that real earnings for the same period registered a growth of 0.1%, as stated by Monstat.

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By economic sectors, average salaries without taxes and contributions in January, compared to December, saw an increase in the sectors of water supply; wastewater management, process control; waste removal and related activities by 4.4%, other services by 3.9%, manufacturing industry by 3.2%, wholesale and retail trade; repair of motor vehicles and motorcycles by 3.0%, real estate business by 2.9%, professional, scientific and technical activities by 1.5%, health and social care by 1.1%, accommodation and food services by 0.7%, administrative and support service activities by 0.3%, information and communication by 0.2%, and transportation and storage by 0.1%.

A decrease in the average salary was noted in the sectors of construction by 3.3%, public administration and defense; compulsory social security by 1.1%, financial activities and insurance by 0.9%, supply of electricity, gas, steam, and air conditioning by 0.8%, education by 0.4%, extraction of ores and stone by 0.3%, agriculture, forestry, and fishing by 0.1%, and artistic, entertainment, and recreational activities by 0.1%.

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