EPSU was part of an ETUC delegation that met with employers and representatives of the European Council, Commission, Central Bank and Eurogroup in the biannual Macroeconomic Dialogue on 23 May. ETUC general secretary, Luca Visentini, pointed out that wage developments in the last quarter of 2021 had been the lowest for several years, that the wage share in the economy was declining and that there was no evidence that pay increases had pushed inflation higher. EPSU general secretary, Jan Willem Goudriaan, underlined the need for action to address low pay and precarious work in health and particularly social care. There was some concern on the part of the employers as to the threat of a wage-price spiral.
Trade unions and employers exchange on wage and price developments
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On 8 January, DG Employment published [Employment and Social Developments in Europe 2012->http://ec.europa.eu/social/main.jsp?catId=738&langId=en&pubId=7315&type=2&furtherPubs=no]. Chapter 5 of the report is "Wage developments in the European Union during a severe economic downturn"
According to the EIRO industrial relations observatory the latest figures for wage growth in Slovakia show real wages increasing at their fastest rate for five years. In the first of 2005 wages were rising at 8.2% and real wages at 5.6%. However, figures broken down by industry suggest that real wages fell in the electricity, gas and water sector by 7.3%. Read more at > EIRO
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