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economic conditions
Business / 35 weeks ago
How economic conditions are impacting the average hourly wages in Europe
The European economy has experienced significant fluctuations in recent years, influenced by factors such as inflation, unemployment, and GDP growth. These economic conditions have a profound impact on average hourly wages across Europe. According to data from Eurostat, the statistical office of the European Union, we can gain valuable insights into the relationship between economic conditions and average hourly wages. Inflation plays a crucial role in determining average hourly wages. When inflation rises, the purchasing power of consumers decreases, and employers may need to adjust wages to maintain employees' standard of living. Eurostat data reveals that countries with high inflation rates, such as Hungary and Poland, have experienced significant growth in average hourly wages (€12.8 and €11.9 respectively) between 2023 and 2024.
Maps / 43 weeks ago
Countries with the longest weekly hours worked per employee
The International Labour Organisation (ILO) tracks various labour statistics, including the average weekly hours worked per employee. In its latest findings on global work-hour trends, some countries work longer than ILO's prescribed 48-hour work week.
