Development of Wages and Salaries in Industry Since the Financial Market and Economic Crisis

Since the financial market and economic crisis (2010-2018), collective bargaining and effective remuneration in manufacturing have developed largely in step, with the result that overpayment rates have hardly changed on average. Wages rose somewhat more strongly than salaries, largely due to changes in the employment structure by industrial sector. This structural effect also favoured a slight decline in the dispersion of industry-specific wages and salaries. Wages and salaries increased both nominally and in real terms more slowly than before the financial market and economic crisis. However, in light of the progress in productivity in the economy as a whole, the scope for wage policy was largely used.