Controversy over collective bargaining is on the rise: High degrees drive inflation, according to the study. According to the union, it is about the profit of the company.
A new study by Agenda Austria is causing a stir at the union: according to this, wages are the driving force behind inflation this year. “Prices continue to rise, and the latest wage increases, which of course have to be passed on, also have a share,” says economist Marcell Göttert of Agenda Austria. More than half of the inflation, at 54 percent, is due to the most recent collective bargaining agreements in 2023 – and only 30 percent to higher corporate profits. In 2022 it was about the other way around.
Barbara Teiber, president of the GPA trade union, contradicts the conclusion that wage agreements are now to blame for inflation: “On the contrary, there is a profit-price spiral. We see the highest dividend payouts and record profits. Prices continue to rise, but asking us for wage moderation is out of this world. Of course, we will demand salary increases above inflation in the fall.”
According to the Economica study, the most recent KV diplomas of an average of 8.7 percent of typical employees provide an extra lifelong income of 115,500 euros. Because the increases will have an effect in all subsequent years. How much you receive depends on your age and industry: a 40-year-old commercial employee has a lifetime extra income of 38,953 euros, a 15-year-old banking student even more than 147,000 euros.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
