Labour Costs in Germany on the Rise

Steady Increase in Wages and Salaries

According to the Federal Statistical Office Destatis, employers in Germany's industrial and service sectors paid an average of 3950 euros per hour worked in 2022. This represents a significant increase from previous years, indicating a growing trend in labour costs across the country.

Impactful Industry and Service Sector

The rise in labour costs is particularly notable in the industry and service sectors, which account for a significant portion of the German economy. The increase is attributed primarily to higher wages and salaries for employees, driven by factors such as labour market demand and collective bargaining agreements.