Real wages in the Eurozone showed a negative trend for the second year in a row, as high inflation caused the real value of wages to decline by almost one percent. Real wage growth is measured by adjusting nominal wage growth - that is, the growth of wages in monetary values - for inflation, or changes in the average price of the basket of goods. This means that in 2023, a worker would be able to buy one percent less than they would have in 2022, assuming their wages grew by the 4.5 percent nominal wage growth which was seen across the Eurozone in 2023.
Annual growth rate of nominal and real wages and inflation rate for the Eurozone from 2000 to 2023
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Hans-Böckler-Stiftung, & ECB. (June 30, 2024). Annual growth rate of nominal and real wages and inflation rate for the Eurozone from 2000 to 2023 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1448483/development-nominal-real-wages-eurozone/
Hans-Böckler-Stiftung, und ECB. "Annual growth rate of nominal and real wages and inflation rate for the Eurozone from 2000 to 2023." Chart. June 30, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1448483/development-nominal-real-wages-eurozone/
Hans-Böckler-Stiftung, ECB. (2024). Annual growth rate of nominal and real wages and inflation rate for the Eurozone from 2000 to 2023. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1448483/development-nominal-real-wages-eurozone/
Hans-Böckler-Stiftung, and ECB. "Annual Growth Rate of Nominal and Real Wages and Inflation Rate for The Eurozone from 2000 to 2023." Statista, Statista Inc., 30 Jun 2024, https://www.statista.com/statistics/1448483/development-nominal-real-wages-eurozone/
Hans-Böckler-Stiftung & ECB, Annual growth rate of nominal and real wages and inflation rate for the Eurozone from 2000 to 2023 Statista, https://www.statista.com/statistics/1448483/development-nominal-real-wages-eurozone/ (last visited November 21, 2024)
Annual growth rate of nominal and real wages and inflation rate for the Eurozone from 2000 to 2023 [Graph], Hans-Böckler-Stiftung, & ECB, June 30, 2024. [Online]. Available: https://www.statista.com/statistics/1448483/development-nominal-real-wages-eurozone/
