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According to the third estimate of the Federal Statistical Office (BFS), nominal wages increased by 1.8 percent in the current year, the statement said on Tuesday. BFS forecasts nominal wage developments on a quarterly basis. Value is based on cumulative wage data and may change with subsequent estimates. After the first and second quarters, a wage increase of 1.8 percent was measured.
For most workers, wage increases are being eaten up by inflation. Forecasters currently expect an average inflation rate of just over 2 percent for the entire year.
According to calculations of the Federal Statistical Office (BFS), nominal wages increased by an average of 0.9 percent in 2022. Considering the annual inflation of 2.8 percent, real wages decreased by 1.9 percent on average.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
