In the third quarter of 2022, Germans will have to accept a wage loss of 5.7 percent. The Federal Statistical Office sees the “strongest fall in real wages” since the economic crisis of 2008. Inflation has been eating up wages for a year now.
In Germany, high inflation has de facto led to a drop in real wages. As the Federal Statistical Office announced on Tuesday, real wages fell by 5.7 percent in the third quarter of 2022 due to inflation.
The statisticians were able to determine a wage increase of 2.3 percent. However, this was eaten up by the high inflation rate of 8.4 percent. “Inflation thus more than consumed the increase in nominal wages in the third quarter of 2022,” said the authority.
For employees in Germany, this means the fourth loss of income in a row. In the second quarter there was already a wage loss of 4.4 percent, in the first quarter of 1.4 and in the last quarter of 2021 it was 1.8 percent.
The Federal Statistical Office emphasizes that this is the “strongest and longest-lasting drop in real wages” since the economic crisis in 2008. Real wages provide information about the price-adjusted wage development.
The property tax is one of the domestic political excitement of the year, along with the gas levy and citizens’ income. Missing data, blocked access and the tight deadline give an idea of what owners and tenants could soon face. But protests are now raging in the southwest.
33 German companies with sales of at least 20 million euros have filed for bankruptcy in the past three months. That is 74 percent more than in the same period last year. This means that there are already more major insolvencies than in the whole of 2021.
According to experts, Bavaria has implemented the property tax reform in an exemplary manner with its surface model. But what if instead of 198 euros, 2550 euros are due in the future? A property owner from Lower Bavaria comes up with this amount.
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