German Wages in the second quarter rose at a very Fast Pace

Aug 24, 2015 Web Developer News 0

The Federal statistics Office on Tuesday September 2015, said that the German real wages had increased by 2.7 percent during the second quarter of the year. This became the strongest increase which dates back when records commenced in the year 2008.

The information indicated the strongest increases on a pre-inflation or nominal basis, which took place in Eastern Germany and also in the inexpert, low-wage sector, which might have been as a result of the introduction of 8.50 euro least wage at the beginning of the year that had created an impact.

In addition, low inflation also provided support to real wage increase. Just like the first quarter, the second quarter also had consumer prices increased by just 0.5 %, thus leading to pulling the nominal wage development by 3.2 percent merely marginally lower.

In three successive quarters, real wages were reported to have increased by more than 2 percent. In the year 2014, 2.5 percent was lifted in the first quarter while the last quarter of the year had a 2.2 percent. This shows that the first and the last quarter registered a difference of 0.3 percent in real wages.