Inflation vs Wage Growth in western countries.
Lots of talk, understandably so, about wage rises and inflation rises, and how wages aren't currently keeping up with inflation. Thought I would see what is happening elsewhere.
Looks like the UK is doing 'less worse' than elsewhere. Germany has wages falling even before taking account of inflation. Czech Republic the same, with inflation also at 12.7%. Thats a huge impact on living standards.
The longer this goes on, there will be a lot of disgruntled electorates across Europe.
Very interesting I thought.
Country Inflation Wage Growth
Czech Rep 12.7% -2%
Poland 10.9% 11.7%
Spain 9.8% 5.1%
Netherlands 9.7% 2.4%
Hungary 8.5% 14.2%
Belgium 8.3% 3.3%
USA 7.9% 9.2%
Euro Area 7.5% 1.5%
Germany 7.3% -1.4%
Italy 6.7% 0.6%
UK 6.2% 5.4%
EU 5.6% 2%
France 4.5% 0.5%
Norway 4.5% 3.5%
Sweden 4.3% 1.9%
Australia 3.5% 2.3%
Switzerland 2.4% -0.1%
Japan 0.9% 1.2%
Sources
https://tradingeconomics.com/country...ntinent=europe
https://tradingeconomics.com/country...ntinent=europe
Note: Calculation methodology may be different in different countries. Data is latest available.
Re: Inflation vs Wage Growth in western countries.
Quote:
Originally Posted by
JamesWales
Lots of talk, understandably so, about wage rises and inflation rises, and how wages aren't currently keeping up with inflation. Thought I would see what is happening elsewhere.
Looks like the UK is doing 'less worse' than elsewhere. Germany has wages falling even before taking account of inflation. Czech Republic the same, with inflation also at 12.7%. Thats a huge impact on living standards.
The longer this goes on, there will be a lot of disgruntled electorates across Europe.
Very interesting I thought.
Country Inflation
Wage Growth
Czech Rep 12.7%
-2%
Poland 10.9%
11.7%
Spain 9.8%
5.1%
Netherlands 9.7%
2.4%
Hungary 8.5%
14.2%
Belgium 8.3%
3.3%
USA 7.9%
9.2%
Euro Area 7.5%
1.5%
Germany 7.3%
-1.4%
Italy 6.7%
0.6%
UK 6.2%
5.4%
EU 5.6%
2%
France 4.5%
0.5%
Norway 4.5%
3.5%
Sweden 4.3%
1.9%
Australia 3.5%
2.3%
Switzerland 2.4%
-0.1%
Japan 0.9%
1.2%
Sources
https://tradingeconomics.com/country...ntinent=europe
https://tradingeconomics.com/country...ntinent=europe
Note: Calculation methodology may be different in different countries. Data is latest available.
But we've had this since 2007 whereas other countries haven't so they are better prepared to handle inflation. The source below goes up to 2015 but we all know the trend has continued until now.
Source: https://www.statista.com/chart/5364/...r-wage-growth/
Re: Inflation vs Wage Growth in western countries.
Quote:
Originally Posted by
Doucas
True. Although since 2015, wage growth was typically below inflation too.
https://www.statista.com/statistics/...od%20in%202020.
The current figures for Germany and Netherlands are quite something
