European Labor Market Outlook 2022 H1
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European Labor Market Outlook 2022 H1

March 21, 2022 | Brief

Preparing for Wage Pressure in 2022

Businesses will have to raise wages to meet their labor needs: we estimate that in 2022 wages will increase by 4.4 percent in Germany and the UK, 5.4 in the Netherlands, 8.2 percent in Poland, and 8.9 in Hungary. Western Europe will see some of the largest increases since the 2000s. The Ukraine war will surely put additional pressure on inflation. This means that the issue of wage growth will stay relevant throughout the whole year, and certainly into 2023 as well. 

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