Press Release: The EIRO Annual Update on Pay 2003. Moderate pay increases across Europe

This review of trends in pay in 2002 and 2003 finds that average collectively agreed nominal wage increases across the EU and Norway fell from 3.5% in 2002 to 3.1% in 2003 - though with major variations between countries. This suggests a deepening trend towards wage moderation in many countries. Taking into account inflation, the rate of real increase rose a little from 2002 to 2003, as a result of falling inflation. In 10 acceding and candidate countries examined, the average agreed nominal pay increase was far higher, rising from 8.1% in 2002 to 9.4% in 2003, and real pay also increased more rapidly than in the current EU. This review also looks at productivity, collectively agreed pay increases in selected sectors, increases in average earnings and minimum wages, and the gender pay gap.

http://www.eiro.eurofound.europa.eu/2004/03/update/tn0403103u.html http://www.eiro.eurofound.europa.eu/2004/03/update/tn0403103u.html

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