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Wages

Austria: Right-Winged Extreme Party Buoyed by Tailwind

The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.

May 21, 2014

Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.

April 28, 2014

Vienna Real Estate Market Hopelessly Overstrained?

Real estate trustees in Vienna demand a limit to state-subsidized apartments and call for “unrestricted” rents.

April 23, 2014

Austrians Cautiously Observant

Despite economic recovery the Austrian citizens are still cautiously observant.

April 22, 2014

“No Real Wage Loss This Year“

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

January 21, 2014

Czech Republic: New Government Confirmed

Seven weeks after the national elections, the Czech Social Democrats (CSSD) have agreed to form a coalition with ANO and the Christian Democrats (KDU-CSL).

December 11, 2013

EU/CESEE: Real Income Shrinks

In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.

December 9, 2013

Slovenia: Income Falls Persistently

Average monthly earnings for August 2013 lower than in the previous month both in nominal and in real terms. Annual earnings were down by 2.5% in real terms.

October 17, 2013

Bulgaria: Number of „Working Poors“ Grows Considerably

Bulgaria´s average wage only comes at € 269 per month. 600,000 Bulgarian earn less than € 180 per month.

October 15, 2013

Slovakia: Mixed Employment Situation

In Slovakia, employment fell in the construction industry and in the manufacturing industry. Wages were up in most sectors.

October 11, 2013

Bratusek: “We Are Paying for Your Debts”

On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.

October 9, 2013

Croatia: Domestic Consumption Remains Weak

In the next years, Croatia´s economic performance will mainly depend on external factors.

October 5, 2013

Slovenian Government to Approve Adjusted Budget

The Slovenian government today plans on implementing the revised budget for next year and the draft for the 2015 budget.

September 30, 2013

Faymann: Austria as Role Model for Investments and Employment Programs

The Austrian Chancellor calls for a fair distribution of wealth and lower taxes on wages.

September 20, 2013

Austria: 80 Percent Opposed to 12-Hour-Working Day

A survey of a Socialist trade union shows that 80 percent of employees are opposed of a working day of twelve hours.

September 19, 2013

Poland Trying to Eliminate Povery

The country plans on spending € 2bn in the combat against poverty.

September 19, 2013

Hungary: Orban Forecasts Growth of 2 Percent

Hungarian Prime Minister Viktor Orban forecasts economic growth of 2 percent next year as the country has managed to surpass several difficulties.

September 18, 2013

Austria: ÖVP Rejects Tax Reforms by Social Democrats

Chancellor and Leader of the Social Democrats Werner Faymann is in favor of lower taxes on wages. His model includes reliefs of up to € 1,011 annually. However, coalition partner, the Austrian People’s Party (ÖVP) rejects the plans.

September 18, 2013

Leitl Recommends Parties Not to Raise Hopes

President of the Austrian Chamber of Commerce, Christoph Leitl considers the demand of the Social Democrats and Chancellor Werner Faymann for a tax relief as soon as 2015 utopian.

September 17, 2013

Austria: IMF Pushes for Tax Reform

The International Monetary Fund recommends re-considering the tax system. The Austrian wage taxes are too high, IMF criticizes.

September 13, 2013

Poland: Rallies Against Government

Around 20,000 persons took part in a rally against the government organized by the country’s three largest trade unions: Solidarity, the All-Poland Alliance of Trade Unions (OPZZ) and the Trade Unions Forum.

September 12, 2013

IMF: Praise and Criticism for Austria

According to the IMF´s country report, Austria´s main problem is the fiscal situation.

September 11, 2013

Romania: West Region to Catch Up Economically

Romania's West Region aims to catch up with its more developed peers in the European Union.

September 9, 2013

Czech Republic: Real Wages Shrink

In the second quarter, nominal wage growth came at 1.2%. Real wages were down by 0.3%, however.

September 9, 2013

Keuschnigg: “We Already Have The Flat Tax in Austria”

The head of IHS demands tax relief instead of further tax burdens and the adjustment to the inflation rate.

September 3, 2013

Alpine: Former Employees to Receive Wages

Almost 5,000 former employees of bankrupt construction company Alpine can feel relieved as this week the insolvency contingency fund will start with settlements. However, creditors will only be given a rate of five percent.

August 27, 2013

Austria: Fekter Does Not Publish Controversial Industrial Location Study

According to a recent study on the quality of Austria´s industrial location, the number of leaving multinational companies is growing.

August 25, 2013

Romanians Not Satisfied with Wages

More than half of Romanian employees claim not to be paid enough for their work.

August 22, 2013

Leitl: “Austria Screwed Up”

If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.

August 21, 2013

Austria: Spindelegger Demands Flexibility of Working Hours

Working hours have become the main issue of the election campaigns. The dispute was incensed by the claims of Minister of Economy Mitterlehner to allow up to twelve hours of work per day.

August 19, 2013

Austria: Alpine Creditors Register € 2.29bn

The downfall of construction company Alpine, the biggest bankruptcy in the history of the second Republic, has not been finished yet.

August 19, 2013

Romania: Significant Drop in Purchase Power

General consumption climate is unfavorable in Europe at the moment.

August 12, 2013

Austria: Spindelegger Wants Reform Government

The next government has to be a “reform government”, according to Austrian Vice Chancellor Michael Spindelegger, since the one in office now has only shown little reform zeal.

August 9, 2013

Cautious Optimism in Slovakia

The economic outlook for Slovakia brightens slightly. The export-oriented country benefits from the stabilization in the Eurozone.

August 2, 2013

Eurozone: Household Real Income Increased 0.5 percent

Household saving rate up to 13.1% in the euro area and to 11.0% in the EU27 Household real income per capita increased by 0.5% in the euro area

July 31, 2013

Trend: Service Industry Drifts to CESEE

Lower costs in the service sector in CESEE countries, particularly Romania, are compensated by higher expenditures in securing quality standards.

July 30, 2013

EVN Forced to Lower Electriciy Prices in Bulgaria

Austrian energy provider EVN is ordered by the regulator to drop electricity prices.

July 30, 2013

Bulgarian Protests As Sign of New Understanding of Values

The great wave of protests in Bulgaria continues to sweep the country. Experts regard the demonstrations as a sign of a new understanding of values.

July 25, 2013

Hungary: Net Earnings Grew Substantially

In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 3.3%

July 19, 2013

Spindelegger: Fitness Program for Austria

Austrian economy supposed to be boosted by reforms of “Unternehmen Österreich 2025, and a rejection of new taxes.

July 10, 2013

Romania: No Investors for Post Company

Debts and a collective agreement which makes restructuring impossible until 2018 are among the main reasons the company is not attractive to potential investors.

May 29, 2013

Slovenia: Huge Cuts in Complementary Budget

Foreign Ministry might be closed down since a 20 percent cut is proposed.

May 24, 2013

Leitl: „EU Has To Deliver Clear Confession to Business Location Europe”

According to Leitl, the EU Summit has to deliver a “clear confession to business and industrial location” Europe.

May 22, 2013

Croatia: PM Warns Of Croatia Airlines’ Downfall

Prime Minister Milanovic stresses the need to make changes to guarantee a future for the airline company.

May 17, 2013

No Changes in Bulgarian Political Landscape

At the early elections in Bulgaria, Prime Minister Borissov’s Gerb party turns out winner in the early elections.

May 13, 2013

Magna Negates Downsizing

The Canadian-Austrian automotive component supplier Magna has rejects the alleged cut in workstaff in its plant in Graz.

May 6, 2013

Magna: Workstaff in Europe to be Reduced

According to CEO Walker the factory in Graz needs to become more efficient.

May 6, 2013

Eurozone: Household Savings Rate Decreased Significantly

Household saving rate down to 12.2% in the euro area and to 10.7% in the EU27. Household real income per capita fell by 1.1% in the euro area.

April 29, 2013

Poland: Trade Union Threatens With Protests

The conflict between the trade union Solidarnosc (solidarity) and the Polish Government aggravates.

April 26, 2013

Hungary: Average Gross Earnings Increased Marginally

Average gross earnings amounted to HUF 223,100.

April 18, 2013
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