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.