Ifo Institute: ‘Strong wage increases expected in 2022’ in Germany

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Employees in Germany can expect significant wage increases in the new year, according to a company survey by the Ifo Institute. On the one hand, companies are looking for skilled workers, on the other hand, minimum wages are rising strongly, the economic researchers explained. Of the 630 personnel managers surveyed, 78 per cent expect “wages to rise by an average of 4.7 per cent in their workforce as a whole.” Falling wages were reported only very sporadically. “Wage increases are expected to be highest in the service sector, with an average of 5.8 per cent,” according to the study, which was …

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