Analysts: wage increases are driven by labor shortages

First of all, labor shortages are driving wages up and strong growth can last until the favorable pace of economic growth persists – market analysts commented on the latest report of the Central Statistical Office (KSH) that was published on Tuesday.

According to the data of the Central Statistical Office, in February the gross and net average earnings were 12.1 percent higher than a year before after the 10.6 percent increase in January. Wages increased by 11.4 percent in the first two months of the year. Real wages were 8.7 percent higher in February and 8.2 percent higher in January-February than a year before. (MTI)