Wages negotiated under collective labour agreements (CAOs) were 2.4% higher in the third quarter compared to a year ago, indicating a clear downward trend in the last three quarters, reports the government statistic office CBS on Monday.

Wages rose 3.4% and 3% respectively in the first and second quarters of this year. ‘The effects of the economic crisis are increasingly reflected in CAO wages,’ said the CBS.
Wages in the healthcare sector rose the most (3.5%) in the third quarter.