Nominal wages up 1.5% in 2024 according to third estimate.
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Generated with artificial intelligence.
Wages in Switzerland are likely to have risen slightly more in 2024 than previously assumed. However, some of this is likely to be eaten up by inflation.
According to the third estimate by the Federal Statistical Office (FSO), nominal wages have risen by 1.5% in the current year, according to a statement on Friday. The FSO estimates nominal wage development on a quarterly basis.
The figure is based on cumulative wage data and may change with each subsequent estimate. After the first quarter, a wage increase of 0.6% was initially measured, which was then revised upwards to 1.1% after the second quarter.
For most employees, however, wage increases will be eaten up by inflation. Forecasters currently expect an average inflation rate of just over 1% for the year as a whole.
According to FSO calculations, nominal wages rose by an average of 1.7% in 2023. Including annual inflation of 2.1%, real wages fell by an average of 0.4%.
Translated from German by DeepL/ts
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