German salaries set to rise sharply in 2015: data

21st December 2015, Comments 0 comments

Salaries in Germany are set to show strong growth in real terms this year, after increasing sharply in the first three quarters, official data showed on Monday.

In real, or inflation-adjusted terms, salaries increased by 2.4 percent in the period from July to September, compared with the same period a year earlier, the federal statistics office Destatis calculated.

They had already risen by 2.7 percent in the second quarter and by 2.5 percent in the first three months of the year, Destatis said.

"Both the regular pay elements and special bonuses contributed to the increase," the statisticians said.

"On the basis of developments during the first three quarters, a sharp increase in real salaries is expected for the whole of 2015," they added.

In nominal terms, salaries had risen by 2.6 percent in the third quarter, and because of the low level of inflation -- which stood at 0.2 percent in the period from July to September -- wage-earners pocketed almost all of that, Destatis said.

At the beginning of 2015, Germany introduced a national minimum wage of 8.50 euros ($9.20) per hour.

But the data so far were not sufficient to quantify exactly what effect the minimum wage had had on both nominal and real wages, Destatis said.


© 2015 AFP

0 Comments To This Article