www.ecb.europa.eu
23 April 2025
- ECB wage tracker updated with agreements signed up to first week of April 2025
- Forward-looking information suggests negotiated wage pressures will ease overall in 2025, consistent with data published following March Governing Council meeting
The European Central Bank wage tracker, which covers active collective bargaining agreements, indicates negotiated wage growth with smoothed one-off payments of 4.8% in 2024 (based on an average coverage of 48.8% of employees in participating countries), and 3.1% in 2025 (based on an average coverage of 46.5%). The ECB wage tracker with unsmoothed one-off payments indicates average negotiated wage growth level of 4.9% in 2024 and 2.8% in 2025. The steeply downward trend of the forward-looking wage tracker in 2025 partly reflects the mechanical impact of large one-off payments (that were paid in 2024 but drop out in 2025) and the frontloaded nature of wage increases in some sectors in 2024. The wage tracker excluding one-off payments…