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Wages rise at fastest rate for 15 years

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Wages rise at fastest rate for 15 years
Bank staff in Frankfurt am Main protest for higher wages in June this year. Photo: DPA
08:44 CEST+02:00
Millions of workers in Germany saw a real increase in pay in the first half of the year, with wages negotiated through collective bargaining agreements recording their highest rise for 15 years.

Wages negotiated through agreements between unions and bosses in Germany rose between two and four percent, with an average of 3.1 percent, in the first half of 2014 compared to 2013.

It means the real wages of millions of workers in Germany are increasing.

In the public sector there were increases of 3.4 percent, analysis from the Hans Böckler Foundation found.

Dr Reinhard Bispinck from the foundation said the wage trend was overall "positive".

The largest increase was for workers in the private services sector with an increase of 3.7 percent, while those in the energy industry only negotiated an increase of 1.3 percent.  

Inflation in Germany is currently at a four-year low of one percent.

SEE ALSO: German hourly labour costs outstrip EU rivals

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