Minimum wages and their role for euro area wage growth

Gerrit Koester and David Wittekopf

Economic Bulletin Boxes, 2022, vol. 3

Abstract: Minimum wages are prevalent in many euro area countries. Since 2008 minimum wages in the euro area have tended, on average, to grow at a similar pace to wages and salaries per employee. However, minimum wage growth can also significantly deviate from growth in wages and salaries in some years. Minimum wages are expected to grow at a substantially stronger pace than wages and salaries in many euro area countries in 2022 and 2023 – leading to a stronger than usual upward impact of minimum wages on euro area wage growth while the absolute direct mechanical impact on wage growth in the euro area is likely to remain contained. JEL Classification: E24, J3, E31

Keywords: inflation; Minimum wages; wage growth (search for similar items in EconPapers)
Date: 2022-04
Note: 3015628
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