Press release No. 366 of 22 September 2020
- Nominal earnings down 4.0% on the same quarter a year earlier
- Short-time work partly reduces income losses
WIESBADEN – The index of nominal earnings in Germany was down by 4.0% in the second quarter of 2020 on the same quarter a year earlier. This index reflects the development of gross monthly earnings including extra payments. The Federal Statistical Office (Destatis) also reports that consumer prices increased by just under 0.8% over the same period. The resulting real (price adjusted) decline in earnings amounted to 4.7%. This was the most substantial year-on-year decline in both nominal and real earnings since the beginning of the time series in 2007 and actually a stronger decrease than that recorded during the 2008-2009 financial market crisis.
Basic data and long time series are available in tables Gross earnings, weekly working hours (62321-0001) and Indices of agreed earnings, weekly working hours (62231-0001) in the GENESIS-Online database.
