Germany: real wages are falling as sectors gear up for 2023 wage negotiations

An article by Thomas Schnee

Publication

29 November 2022 à 14h21

Reading time

2 minutes

Publication: 29 November 2022 à 14h21

Reading time: 2 minutes

An article by Thomas Schnee

Publication

29 November 2022 à 14h21

Reading time

2 minutes

Publication: 29 November 2022 à 14h21

Reading time: 2 minutes

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It is too early to know whether salary increases negotiated in autumn 2022 in the major Chemicals and Metals sectors (+6.5%, +8.5% respectively over two years plus €3,000 each) will help to protect wages from the effects of high domestic inflation. However, according to the Federal Statistics Agency’s latest figures (29/11/2022), stubbornly high inflation is continuing to erode real wages, causing them to fall by -5.7% in Q3 2022. Over the third quarter, nominal wages rose by 2.3%...

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Thomas Schnee Freelance

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