Euro area wage growth appears sustainable – ECB bulletin

The costs of employment

Wage growth in the euro area appears to be on a more sustainable footing, after the region’s central bank deemed it was no longer being driven primarily by ‘wage drift’.

Wage drift is the difference between the wage actually paid to a worker and the wage negotiated. For instance, while a collective agreement might negotiate a certain pay scale, as labour market conditions tighten, employers might push employees into higher pay bands or offer bonuses to retain staff.

“Annual growth in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: