Germany -Bundesbank favours higher wages -July 30, 2014

The Bundesbank that historically has been a strong advocate of wage restraint has welcomed above-inflation wage increases in some sectors, with euro zone inflation stuck below 1% and consumer prices rising just 1.0% in June in Europe's biggest economy.

The Bundesbank that historically has been a strong advocate of wage restraint has welcomed above-inflation wage increases in some sectors, with euro zone inflation stuck below 1% and consumer prices rising just 1.0% in June in Europe's biggest economy. The trade unions have negotiated above-average pay hikes in the past year after a decade of wage restraint. In April, 2.1 million public sector workers agreed to a 3.0% pay increase for 2014 and 2.4% for 2015. Spokespersons of the bank welcomed that wages are rising more strongly again, as in a series of sectors and regions, there is near-full employment and reports of labour shortages are piling up.

English: http://uk.reuters.com/article/2014/07/30/uk-germany-wages-weidmann ...    

German: http://www.sueddeutsche.de/wirtschaft/bundesbankchef-weidmann-fordert-lohnplus ...   

 

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


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