Wage growth across the euro zone is expected to be “very strong” over the next few quarters but real wages are still likely to decline given rapid inflation, a European Central Bank Economic Bulletin article argued. | Reuters
FRANKFURT – Wage growth across the euro zone is expected to be “very strong” over the next few quarters but real wages are still likely to decline given rapid inflation, a European Central Bank Economic Bulletin article argued on Monday.
A historic surge in inflation has eroded real incomes over the past two years and firms are finally starting to adjust wages, leading to worries that high inflation could be perpetuated if wage setting is adjusted on a more permanent basis.“Wage growth over the next few quarters is expected to be very strong compared with historical patterns,” the article written by staff economists concluded.
But the expected economic slowdown and uncertainty about the outlook are likely to put downward pressure on wage growth beyond the near term, the economists argued.
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