Wage Growth in Europe: Evidence From Job Ads

OpinioPro Selection
By December 5, 2022 12:28

Wage Growth in Europe: Evidence From Job Ads

Faced with the risk of persistently high inflation, both the European Central Bank (ECB) and the Bank of England increased their main policy rates substantially in 2022. Policymakers have signalled that more increases are coming. To calibrate the scale and pace of the interest rate changes needed to sustainably achieve inflation targets, central banks pay close attention to current incoming wage data, looking for signs of cost pressures in the labour market. To track wage developments, the ECB uses national accounts data on workers’ compensation and data on negotiated wages, neither of which are perfect. For example, national accounts data is only available at a considerable lag of 90 days. 

OpinioPro Selection
By December 5, 2022 12:28

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