The average net income in Austria is rising by 4.7 percent in real terms (i.e. adjusted for inflation), and by 4.2 percent in gross terms. The Upper Austrian Chamber of Labor (AK) highlighted these figures from the economic research institute Wifo at a press conference on Monday. This means that the loss of purchasing power in wages and salaries in recent years has been halted for the time being, said AK President Andreas Stangl together with Bettina Csoka from the AK Department for Economic, Social and Societal Policy: “But the cost of living crisis has not yet been overcome.”
With this year’s increase, net income will roughly reach the purchasing power level of 2020, i.e. before the start of high inflation rates. This is thanks to the collective wage and salary increases that the unions ultimately achieved with measures such as strikes, said Stangl. There are no metalworker negotiations this year because a two-year agreement was agreed in 2023. But there will be negotiations in the autumn, for example in the food and stone/ceramic industries and in trade.
Stangl expects “long discussions”. In view of the current difficult situation, the social partners should “sit down together and negotiate responsibly. The unions will not overburden the economy, and I hope that the economy will not demand any real wage losses from employees.” Compared to 2002, net purchasing power has increased cumulatively – from the AK’s point of view only – by 1.3 percent. According to its forecast for 2025, the Wifo expects real net income to increase by 1.3 percent.
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Image: VOLKER WEIHBOLD
Source: Nachrichten
