Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
dpa

HOME > dpa

Real wages for German workers rose strongly in first quarter of 2024

July 18, 2024


Abstract : Income for workers in Germany rose in the first quarter of 2024 even after adjusting for inflation, boosted by strong wage growth and bonuses paid by many employers.

Income for workers in Germany rose in the first quarter of 2024 even after adjusting for inflation, boosted by strong wage growth and bonuses paid by many employers.

Compared to the same period last year, nominal wages rose by 6.4%, according to figures released by Germany's Federal Statistical Office. After adjusting for inflation, real wages increased by 3.8%. This was the highest increase since the agency began tracking those particular figures in 2008.

Nominal wages only rose faster during one previous period, the second quarter of 2023. But at the time, high inflation undercut gains for workers in real terms.

Inflation has slowed considerably in Germany in recent months. Real wages have been rising again since the middle of 2023, after nearly two years of high inflation had driven down real earnings.

In addition to collectively bargained wage increases, incomes also rose because of inflation compensation bonuses paid out by many companies, which were exempt from taxes up to an amount of €3,000 (about $3,250).

Lower-income workers and public-sector employees in particular have benefited from strong wage growth.

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: first quarter Real wages German workers

Reading:

China-Laos Railway handles over 3 million tonnes of imports, exports since 2024

ETFs tracking Saudi stocks debut in Chinese mainland as financial opening-up deepens

China EximBank issues financial bonds to support Belt and Road cooperation

China sees surging NEV production and sales with expanding market share

Xinhua Headlines: Behind China's growing appeal to international travelers

Most Read

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial