Reference News Network, July 1 report: According to the website of Germany's "Youth World" newspaper on June 26, almost all EU workers involved in collective bargaining face a decline in real wages. The "Collective Bargaining Report" released by the Institute for Economic and Social Research of the Hans-Böckler Foundation, a pro-union German foundation, on June 25 stated that real wages in the eurozone were about 5% lower in 2024 than the average level in 2020. In addition, 2023 and 2024 were years of frequent strikes across Europe, which is why real wages increased by about 2% compared to 2023. Therefore, it can be concluded: "There is still room for improvement."
The report said that "since the inflation surge in 2021," the loss of real wages was mainly due to "prolonged collective negotiations," which allowed unions to only delay their response to "unexpected events such as price shocks." Now, unions are trying to make amends: "Purchasing power growth has been particularly noticeable in Austria, Portugal, and Slovakia."
Although some companies have made huge profits from the crisis, the working class has no choice but to pay higher prices. Over the past five years, crises have followed one after another: after the pandemic came the Ukraine war, which in turn led to a global arms race. Therefore, so-called inflation is nothing more than the accelerated concentration of social wealth into the hands of a few monopolists. (Translated by Zhong Sirui)
Original article: https://www.toutiao.com/article/7522051343951921710/
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