Jobs
German Wages Rose by Most in Three Decades in Third Quarter
- Negotiated pay up 8.8% in third quarter, Bundesbank says
- ECB officials debating pace and extent of further rate cuts
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Germany recorded the strongest wage growth in more than three decades despite its economy being mired in stagnation, according to the Bundesbank.
Third-quarter negotiated pay, including ancillary agreements, jumped 8.8% from a year ago — the quickest rate since 1993, the central bank said Tuesday in its monthly report. Even excluding special payments, wages gained 5.6%.