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German personnel directors expect wages to rise in 2021: Ifo/Randstad survey

Mar 9, 2021

BERLIN (Reuters) – A majority of personnel directors at German companies expect wages to rise in 2021, with more than a quarter expecting them to rise by more than 2%, a survey by the Ifo institute and the Randstad employment services firm found.

The survey, results of which were published on Tuesday, further found that 30% expected wage increases of up to 2%, while 41% thought wages would remain level.

“Even during the corona pandemic skilled labour is heavily sought after,” said Przemyslaw Brandt, a researcher at Ifo. “As a result, pay for skilled workers and managers is more likely to rise than for unskilled employees.”

(Reporting by Thomas Escritt; Editing by Riham Alkousaa)