A year of rocketing prices may have triggered a change in expectations of workers, employers and consumers, fuelling inflation. Read on.
because pandemic lockdowns, and the hiring surge that followed them, prompted workers to move out of low-paying service jobs into more productive sectors.Others take a less optimistic view on productivity, however. Jason Furman, a fellow at the Peterson Institute for International Economics, said that after factoring in revisions to figures for earlier months, “the pattern looks less like a slowdown in wage growth within 2022 and more like steady growth that is roughly consistent with 3.
The latest data from France and Spain also points to persistent inflationary pressures in the eurozone. There, wage growth was surprisingly muted in 2022 but is expected to pick up this year as unions renegotiate multiyear sectoral deals that cover a big share of the workforce in some countries. Christine Lagarde, the ECB president, said last week the central bank was “looking at wages and negotiated wages very very closely.” Isabel Schnabel, a member of its executive board, has warned that probable wage growth between four and five per cent in the years to come is “too high to be consistent with our two per cent inflation target” and could persist longer in the eurozone than in the U.S., due to the more widespread use of centralized wage bargaining processes.
In all countries, though, there is a growing tension between central banks’ concern over inflation and governments’ wish to protect voters’ living standards and avoid social conflict.Andrew Bailey, governor, Bank of England
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Alberta Budget 2023: Read Finance Minister Travis Toews' budget speech hereBelow is the transcript from Alberta Finance Minister Travis Toews\u0027 speech outlying the details of the 2023 Alberta Budget.
Lire la suite »
World's workers are winning pay hikes, raising fears inflation will stay higher for longerA year of rocketing prices may have triggered a change in expectations of workers, employers and consumers, fuelling inflation. Read on.
Lire la suite »
World's workers are winning pay hikes, raising fears inflation will stay higher for longerA year of rocketing prices may have triggered a change in expectations of workers, employers and consumers, fuelling inflation. Read on.
Lire la suite »
World's workers are winning pay hikes, raising fears inflation will stay higher for longerA year of rocketing prices may have triggered a change in expectations of workers, employers and consumers, fuelling inflation. Read on.
Lire la suite »
World's workers are winning pay hikes, raising fears inflation will stay higher for longerA year of rocketing prices may have triggered a change in expectations of workers, employers and consumers, fuelling inflation. Read on.
Lire la suite »
World's workers are winning pay hikes, raising fears inflation will stay higher for longerA year of rocketing prices may have triggered a change in expectations of workers, employers and consumers, fuelling inflation. Read on.
Lire la suite »