50 and 20 euro banknotes

Wiesbaden, Germany — Real wages in Germany increased by 0.1% in 2023 compared to 2022, with a 6.0% rise in nominal wages, the highest since 2008, driven by inflation compensation and a minimum wage increase.

This marks the first real wage increase since 2019, following negative trends due to increased short-time work in 2020 and high inflation in 2021 and 2022.

Employment in Germany also increased in January 2024. 45.7 million people in employment, 0.1% more than in the previous month, 0.5% more than in the previous year.

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

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