Fall in real gross pay levels

According to the European statistical agency Eurostat real pay levels fell by 0.4% in the eurozone over the year to Q4  2011. Average earnings rose by 2.5%, but prices rose over the same period by  2.9%.

Changes in average earnings over the year to Q4 2011 ranged from  3.7% in Germany to falls of 1.9% and 1.7% respectively in Ireland and Portugal.

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