“Italy stands out for a negative wage dynamic”. The latest world report on wages of the international work organization says this and means that Italian salaries lose value from year to year: with the same salary you can buy less objects and less services, it is difficult to pay bills and mortgage. Real wages are 8.7 percentage points compared to 2008 levels. Our country is in the last place among the members of the G20 in terms of wage growth in the long run.
The royal salary losses from 2008 to 2024 were 8.7% in Italy, 6.3% in Japan, 4.5% in Spain and 2.5% in the United Kingdom. South Korea had, in the same period, a 20%of the real wage increase between 2008 and 2024, in Germany the salaries rose by 15%, in France by 5%. The Italian figure is negative despite the fact that in 2024 there has been a growth of 2.3%not quite supported to compensate for the loss accumulated in previous years due to the inflation which in 2022 reached the peak of 8.7%.
Employees with the lowest income are penalized above all. Explains the international organization of work that families forced to spend the main part of the salary for accommodation, energy and food goods have had to face a higher inflation and undergo a more substantial drop in purchasing power. In addition to the decisive factor of inflation weigh on low productivity, entrepreneurial activities of small size, poor investments in technological innovation and workers’ training. According to the report, the model of bargaining is also inadequate which is that applied to most Italian workers.
Source: Vanity Fair
I’m Susan Karen, a professional writer and editor at World Stock Market. I specialize in Entertainment news, writing stories that keep readers informed on all the latest developments in the industry. With over five years of experience in creating engaging content and copywriting for various media outlets, I have grown to become an invaluable asset to any team.
