Wage development in comparison with labour productivity development – Warning Slovak national example

Abstract

The main purpose of this study is to analyse the development of wages and labour productivity in the period of 2000 to 2018 (data gained in 2019) in the Slovak Republic and to identify the spectrum of the correlation of these developmental features and predictors, but also to point out that the interconnection of the analysed issues cannot always represent direct dependence on the long-term sustainable growth of the economy. The authors focus on the question of the possible sustainability of wage development in the Slovak Republic based on the analysis of the relevant determinants. Comparing the development level and wages structure in the period before and after the national accession into the EMU, the authors try to warn about the resulting problem of the country's economy in connection with the current unsustainability of the growth of wages and labour productivity. The warning results are presented in the study.