Tuesday 05 July 2022

Pay rises averaged 3.8% last month, increases will continue

Pay deals agreed in May included an average wage increase of 3.8%, according to new figures from AWVN, an organisation which supports employers in salary negotiations.

In April the average rise was 3.4%, and in March the figure was also above 3%, the Financieele Dagblad quoted the AWVN as saying.

Economists say as a whole, wages will go up by 3% this year but the increase could be as high as 4% or even more in 2023, as competition for scarce employees heats up and the impact of high inflation continues.

Over the past 20 years, wages in centrally negotiated pay and conditions agreements (CAOs) have risen between 1% and 3% a year.

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