Wiesbaden - This was announced by the Federal Statistical Office (Destatis) on Tuesday. According to preliminary results of the quarterly earnings survey, the nominal wage index rose by almost 3.4 percent on average over the year compared to the previous year, while consumer prices rose by a good 7.9 percent in the same period. Despite the strongest increase in nominal wages since the beginning of the time series in 2008, this was the strongest real wage loss measured to date for employees.
Real wages fell by an average of 4.1 percent compared to 2021, after declining in the last two years of the crisis. While in 2020 the increased use of short-time work in particular contributed to the negative nominal and real wage development, in 2021 and especially in 2022 the high inflation consumed nominal wage growth.
Source: Der Newsticker
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