Despite improved economic growth, real wage increases across Europe are averaging only 0.4% this year compared to 1.5% last year, according to the latest report from the trade union linked WSI research organisation. In several countries - Austria, Greece, Portugal and France - there is virtually no change in real wages while six countries - Cyprus, Spain, Italy, Finland, Belgium and the UK - are looking at a fall in real wages. The WSI points out that calls for an increase in pay to boost economic demand are even coming from the European Commission and European Central Bank. These are institutions that have been pushing for labour reforms whose effects have weakened collective bargaining across Europe, thereby undermining trade unions efforts to secure pay increases.
Report warns of wage stagnation across Europe
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