Labour Market and Wage Developments in Europe 2023

The Labour Market and Wage Developments in Europe report analyses the labour market from a macroeconomic perspective.

This year’s edition discusses the situation and prospects for the EU labour market, which has continued to perform well notwithstanding the economic slowdown and an economic context characterised by persistent uncertainty.

The report also reviews recent wage and labour cost developments in the EU and its Member States in the current high-inflation environment. While wage growth has been robust, it has not been sufficient to compensate for the high inflation.

At the same time, statutory minimum wage policies have contributed to protecting the purchasing power of minimum-wage earners.

Finally, the report examines the developments in working time across the EU, assessing how individual preferences have evolved following the COVID-19 pandemic and discussing the effects of working time policies on workers’ wellbeing and on the broader economic context.