Statistics Office of Georgia (Geostat) published the statistics of average nominal earnings in the country as of 1Q2021. According to Geostat, the average nominal earning totals to GEL 1,328, which is GEL 177.9 more than the previous year.
If we compare wage increase to the inflation rate, purchasing power is down this year.
Geostat calculates wage statistics for 19 sectors, the rate of wage growth in 8 of these 19 sectors lags behind inflation, therefore, the purchasing power of the average wage of employees in these sectors is reduced compared to the previous year.
As for the average wage in the country, its growth rate exceeds inflation by only 2.7%, therefore, the real purchasing power of the average wage has increased by only 2.7% this year.
Does the average wage increase is ahead of inflation - Sector Outcomes:
●Financial and insurance activities - GEL 2,355, increase in purchasing power totals to 2.6%
● Information and communication - GEL 2,173, decrease in purchasing power -0.4%
●Construction - GEL 2,006, increase in purchasing power amounts to 10.9%
● Professional, scientific and technical activities - GEL 1,920, decrease in purchasing power -5.4%
●Electricity, gas, steam and air conditioning supply - GEL 1,741, increase in purchasing power totals to 0.0%
● Mining and quarrying - 1,738 GEL, decrease in purchasing power -1.0%
●Transportation and warehousing - GEL 1,637, increase in purchasing power totals to 5.8%
● State governance and defense; Compulsory social security - GEL 1,523, decrease in purchasing power -7.5%
●Manufacturing - GEL 1,296, increase in purchasing power amounts to 11.5%
● Health and social services - GEL 1,213, increase in purchasing power totals to 3.4%
● Wholesale and retail trade; Repair of cars and motorcycles - GEL 1,211, increase in purchasing power amounts to 7.3%
●Real estate activities - GEL 1,179, decrease in purchasing power -9.4%
● Arts, entertainment and recreation - GEL 1,031, increase in purchasing power amounts to 4.6%
● Other services - 1,021 GEL, decrease in purchasing power -17.0%
●Administrative and support service activities - GEL 963, decrease in purchasing power - 5.9%
● Accommodation and food supply activities - GEL 939, increase in purchasing power amounts to 1.6%
● Water supply; Sewerage, Waste Management and Pollution Cleaning Activities - GEL 870, increase in purchasing power amounts to 5.5%
● Rural, forestry and fish farming - GEL 853, decrease in purchasing power -7.2%
● Education - GEL 835, increase in purchasing power amounts to 1.4%
