What is the trend in employee salaries in the European Union during the COVID-19 crisis? Did the trend deviate from the previous trend, and was this deviation for better or worse, even considering that everyone is talking about the problem of inflation?
An interesting graph published by Philip Heimberg, an Austrian professor of economics, accurately shows the trend of wages
Apart from the USA, Covid in all countries has led to a lower wage growth trend than before. So the pandemic has made employees earn less money. In this one exception, the USA, where there was a higher wage trend. Even Japan saw a decline in real wages, while the decline in employee salaries in the European Union was particularly noticeable.
Conclusion: the United States has wage inflation, which has already exceeded the previous active development. We have bad inflation, due to the increase in external costs, which will significantly affect the wage dynamics already defeated by Covid-19. Our workers first and foremost earn less for COVID, and then they will earn less to cover insane energy costs.
But be happy, the European Union is thinking of you..
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