The European Commission has warned that wages don’t reflect the rising cost-of-living and are unlikely to catch-up in the near future. According to the Commission’s winter 2023 economic forecast, “nominal wage growth continued at rates below inflation rates, resulting in further purchasing power losses of employees.” The forecast also shows that the European economy grew faster than expected last year and that Member States are reducing their debt ratio more quickly than required by EU rules. However, the forecast lays bare the negative effects on households and public investment of the European Central Bank’s decision to raise interest rates.
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For more information, please contact Paul de Beer or Oana Ciuca, De Burcht (Scientific Bureau for the Dutch Trade Union Movement) p.t.debeer@uva.nl or the Head of communications at the ETUI, Mehmet Koksal mkoksal@etui.org. For previous full issues of the Collective bargaining newsletter please visit https://www.etui.org/Newsletters/Collective-bargaining-newsletter or consult the archive with all articles in our database at www.cbnarchive.eu.
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