New labour market data show both strong wage growth and employment deteriorating very slowly. Wage growth in November came at 11.8% year-on-year. This result was slightly weaker than in October (12.8% year-on-year) due to, among other factors, the lack of significant bonus payments.Wage growth in the corporate sector should remain in double-digits in 2024. As inflation stabilises, fairly high real wage growth is set to be one of the main drivers of consumption and economic growth next year.
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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.
You may find further information on the ETUI at www.etui.org.