Wages in the construction industry will rise by 7.2 to 7.8 percent this year, while annual inflation in the past was 6.8 percent. In the construction and construction sectors, the increase is 7.15 percent. For construction workers, painters, stone workers, upholsterers, glaziers, pavers, floor layers and well builders, the increase is 7.70 percent. Timber builders and carpenters receive 7.25 percent more, while the stone and ceramics industry receives 7.27 percent more gross.
“Amid economic challenges and unprecedented inflation, wages for workers in the construction, timber and stone sectors will rise well above moving inflation rates from May 1, 2024. The Bau-Holz trade union has shown how important long-term and sustainable agreements are for the safety and income of employees,” the employee representatives said today. They calculate: “The highest starting wages are in these sectors without vocational training, such as construction, at more than 2,700 euros, and apprentice incomes up to 2,680 euros in the third year of training for paving workers.”
Union: Wage-price spiral is de facto not possible
GBH chairman and SPÖ MP Josef Muchitsch also has a message for everyone who sees the high wage agreements as price gouging: “The basis for compensating for inflation is the average of the consumer price index of the past twelve months – so there can be no wages. -Price spiral occurs because the wage increase always relates to the last twelve months, which means that employees pay twelve months in advance.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
