The average increase in collective wages in February reached its highest level since the 1970s. This was reported by the AWVN employers’ association. In total, wages increased by an average of 7 percent under sixteen collective bargaining agreements signed that month.
The number of collective bargaining agreements concluded last month lagged behind previous years, notes the AWVN. On average, there are twenty in February. According to AWVN, the decline is due to the large number of collective labor agreements signed in 2022. As a result, there is less demand for new collective labor agreements. In total, around 340,000 employees were confronted with the new collective working conditions in February.
The AWVN talks about a trend that has been going on since the start of 2021. According to the employers’ association, last month’s sharp increase is partly due to rising inflation, which means employees are benefiting from a recovery of purchasing power. According to employers, inflexibility in some parts of the labor market also plays a role.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
