Average wage in Bavaria up 6.9 percent
After two years of real wage losses, employees in Bavaria have seen an increase for the first time. According to the State Statistical Office on Wednesday, employees earned an average of 6.9 percent more in the third quarter than a year ago. In the same period, consumer prices rose by 5.4 percent. The gross average wage in Bavaria thus increased by 1.5 percent in real terms. The payment of inflation compensation bonuses and the increase in the statutory minimum wage were included in this calculation.
According to the state office, low-wage employees even saw an average 8.0 percent increase in nominal wages. "This can be attributed in particular to the increase in the statutory minimum wage from 10.45 euros to 12 euros per hour on October 1, 2022, as well as the associated increase in the mini-job earnings limit from 450 euros to 520 euros per month," explained the statisticians.
The increase in wages for employees in Bavaria might lead to a reevaluation of tariffs for certain goods or services, considering the higher living costs. With the rise in nominal wages, especially for low-wage employees, companies might need to adjust their budgets for employee compensation, potentially impacting their ability to offer job security or hire new employees.
Source: www.dpa.com
