2023-04-18 18:04:29
In 2022, real wages in Luxembourg fell for the first time in ten years. This is shown by the data provided by Statec, requested by The essential. Admittedly, employees earned an average of 81,279 euros gross per year and per person, which has never been so high, but salary increases have not kept up with inflation. While the inflation rate was close to 7%, a level not seen for forty years – particularly under the effect of energy prices (+41.5%) – the increase in wages, for example thanks to the indexation, only reached 5.4%.
Real wages have therefore shrunk by 0.9% over the past year – a value which, according to the data available, was only exceeded in Luxembourg in 2012, with -1.4%.
In total, real wages have only fallen five times in the past 28 years, for example during the 2008 financial crisis. In comparison, in Germany nominal wages have already fallen for the third time in a row in 2022, according to the Federal Statistical Office, by 3.1%. While consumer prices there increased by 6.9%, wages only rose by 3.1%.
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