INS: September’s gross average wage at 720 euro, net pay at roughly 520 euro

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The gross average wage this September was up 0.5 percent from the previous month to 720 euro (3,305 lei), while the net amount was almost 520 euro (2,376 lei), up 12 lei (+0.5 percent), shows data released on Tuesday by the National Statistics Institute (INS). (1 euro trades for 4.58 lei)

In nominal terms, the highest average net pay was in the sector of IT services at 6,022 lei, while the HoReCa sector is at the opposite end with 1,399 lei.

Compared to September 2016 the net average nominal wage was 13.5 percent higher and the real wage index to the same period of the previous year was 111.5 percent.

Referenced to the evolution of consumer prices the real wage index was 100 percent for September 2017 as to the month before. Compared to October 1990, the real wage index was 178.3 pct, the same as in August 2017.

Wages increased in most economic branches in September 2017 compared to August 2017. The rise in the net average wage was the effect of the award occasional bonuses (quarterly or annual premiums, performance perks or on special occasions like the Oilman Day), in-kind benefits and cash aid, benefits from the net profit and other funds, but also of higher production or revenues (depending on contracts).

The most significant monthly rises in the net average wage were as follows: 15.85 percent in petroleum and natural gas extraction; 6.7 in extraction-supporting services; between 3.5 and 4.5 percent in textiles manufacturing, leather tanning and dressing (including the manufacturing of luggage and leather goods, straps and shoes, furs preparation and dyeing), the manufacturing of computers, electronic and optical products; between 2 and 3 percent in the manufacturing of electric equipment, motion picture, video and television program production (including sound recording and music publishing activities), programming and broadcasting activities, the manufacturing of rubber and plastic products, research and development, telecommunications, the manufacturing of paper and paper products.