“No Real Wage Loss This Year“

Politics ♦ Published: January 21, 2014; 22:34 ♦ (Vindobona)

In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.

“No Real Wage Loss This Year“ / Picture: © Wikimedia Commons / The Communist International (based on an artwork by Boris Kustodiev, d. 1927) [Creative Commons CC0 1.0 Universal Public Domain Dedication]

After years of real wage losses, Austrian workers will see an increase in real wages, governor of OeNB (Austrian National Bank) Ewald Nowotny said. “After a long period, there will be a growth in real wages in 2014.” As a result, Nowotny thinks that consumption will rebound this year. In general, Nowotny demonstrates optimism. In 2014 and 2015, growth rates may be revised upwards,…