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Eurozone Logs First Real Wage Growth Since 2021 as Strike Activity Surges

Trade unions pressed hard for higher pay, prompting a surge in strike activity across the currency bloc.

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Die Tariflöhne in der Eurozone sind im vergangenen Jahr erstmals seit 2021 wieder stärker gestiegen als die Verbraucherpreise. Nominal stiegen die Löhne um 4,5 Prozent, wie das Wirtschafts- und Sozialwissenschaftliche Institut (WSI) mitteilte.
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Overview

  • Eurozone negotiated wages rose by 4.5 percent in 2024, delivering a 2.1 percent real pay increase after inflation.
  • Austria, Portugal and Slovakia led real wage gains with increases of 5.4 percent, 4.5 percent and 3.8 percent respectively.
  • Most eurozone countries still have lower real wages than in 2020, with Czechia, Italy and Spain suffering losses of 11.4 percent, 9.1 percent and 5.6 percent.
  • Germany achieved a 2.8 percent real wage increase in 2024 but its pay remains 4.7 percent below 2020 levels.
  • Strike volume in the eurozone has surged over the past two years, with Belgium (107 days), France (102 days) and Finland (93 days) logging the highest totals and Germany registering 21 lost days per 1,000 employees.