05/23/2024 – 14:55
Salary advances in the euro zone are expected to remain high in 2024 and with an irregular profile, assesses the European Central Bank (ECB), in a quarterly report released this Thursday, 23. According to updated data, salary advance negotiations rose to 4 .7% in the first quarter of 2024, accelerating from the 4.5% recorded in the fourth quarter of 2023.
The ECB also points out that overall wage growth, measured by compensation per employee, reached 5.2% in 2023, its highest annual rate since the inception of the euro.
The report attributes the strong wage increase to the high level of inflation in the bloc.
However, the ECB notes that salary tracking tools in the euro zone demonstrate moderation in salary pressures since 2023, signaling a possible cooling throughout this year.
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