Based on the latest available data from the Croatian Bureau of Statistics, the total registered unemployment rate in Croatia stood at 4.8% in August 2024. Additionally, according to the most recent wage data from July, average net earnings remained unchanged in real terms compared to June 2024 but increased by 12.7% YoY.
The Croatian Bureau of Statistics recently published data on employment and unemployment in Croatia for August 2024. According to the data, the number of employed persons totaled 1.74 million, remaining unchanged compared to July, but reflecting a 2.2% increase compared to the same month of the previous year. From January to August 2024, the total number of employed persons increased by 1.7% compared to the same period in the previous year. Considering both the total number of employed and unemployed persons, the registered unemployment rate in August 2024 stood at 4.8%.
Total persons in employment & unemployed persons [2015-2023]
Source: DZS, InterCapital Research
Moving on to the latest available data for July 2024 regarding average monthly wages in Croatia, average net earnings remained unchanged in real terms compared to June, while they increased by 12.7% compared to the same month of the previous year. On the other hand, median net wages increased by 2.2% MoM, and 14.8% YoY.
Median net wage – Croatia [2016 – July 2024]
Source: DZS, InterCapital Research
Below we present the nominal growth of the average median wage throughout the analyzed period. The most recent significant growth should not come as a surprise, given the double-digit inflation during this period. However, we highlight the government’s impact through historic salary increases in state and public services as part of pre-election packages in Croatia. The main goals of this reform were to raise the wages of all employees and to achieve “equal pay for equal work”. This salary increase affected approximately 244 thousand employees, contributing to the elevated growth in wages, one of the highest in the EU.
Average annual median wage growth rate [%]
Source: DZS, InterCapital Research
