A new report from the Eurofound research agency analyses trends in collectively negotiated wages compared to productivity over the 2000-2017 period. The report says that: "From an employee perspective...applying harmonised consumer prices, wages per employee have grown more slowly than productivity since the beginning of the millennium and the gap has been widening, despite hourly wages having been more aligned." It adds that: "In most countries with available data (14 EU Member States), there has been a positive wage drift since the early 2000s, indicating that actual wages have grown more than collectively agreed pay."
Report analyses collectively negotiated wage and productivity trends
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Figures produced by the ETUC and the European Trade Union Institute show that wages across Europe would have been four times higher than they are now if they had kept pace with productivity. Tracking wage increases against productivity developments the figures for some countries even show productivity rising while real wages have fallen. This was the case in Hungary, Portugal, Romania and Greece.