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wage growth

Real wage growth strengthens consumption as Serbia’s labour constraints deepen

Serbia’s labour market remained stable in early 2026, while real wages grew rapidly enough to become one of the main drivers of domestic demand....

Serbia’s employment decline signals structural shift in industrial economy

Serbia is entering a more fragile phase of its labor-market cycle as the total number of registered employees begins to decline despite continued wage...

Serbia’s industrial slowdown deepens as wage growth outpaces productivity

Serbia’s industrial sector entered 2026 under mounting pressure as weakening production trends increasingly collided with continued growth in wages and pensions, exposing a widening...

Wage growth accelerates in Serbia as real earnings continue to outpace inflation

Average wages in Serbia continued to rise strongly at the start of 2026, with both nominal and real income growth reinforcing the resilience of...

Household demand and wage growth sustain Serbia’s consumption cycle while reinforcing import dependence

Serbia’s domestic demand engine continues to operate with notable resilience, supported by rising wages, stable employment conditions and accessible credit. Yet beneath this stability...

Wage growth amid stagnation raises inflation risks for 2026

Warnings about the macroeconomic balance in Serbia are becoming more explicit as wage growth continues to outpace underlying economic momentum. According to Dejan Šoškić, sustained...

Employers warn that wage growth is outpacing productivity across key service sectors

Warnings from employer associations that wage growth is outstripping productivity highlight a structural tension within Serbia’s evolving economy. While rising incomes support consumption and...

Serbia’s wage growth faces challenges amid tax and economic inequalities

In December, Serbia's average net salary exceeded the value of the average consumer basket for the first time. However, despite progress in workers' incomes,...

Retail trade turnover in Serbia

In November 2023, the value of retail trade turnover surpassed that of the same month in the previous year by 9.7%. However, inflation partially...

Declining inflation in Serbia: Implications and outlook explained by National Bank researcher

Recent data reveals a substantial drop in inflation in Serbia, from 16.2% in March 2023 to 6.4% in January this year. Lazar Radivojević, a...

Faster wage growth in the private sector than in the public sector

As of September 1st, salaries for educators, nurses and health care technicians, and caregivers in social care institutions will be increased by 5.5 percent....
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