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Payrise expected before end of 2015
Economics

Payrise expected before end of 2015

30.07.2015 From our online archive
Workers in Luxembourg are likely to receive a payrise at the end of the year, according to a Tweet from Economy Minister Etienne Schneider.

Workers in Luxembourg are likely to receive a payrise at the end of the year, according to a Tweet from Economy Minister Etienne Schneider.

The minister tweeted on Thursday that according to the latest inflation forecasts, “an indexation of salaries should be applied at the end of the year".

Indexation is a mechanism aimed at ensuring salaries rise in-line with inflation on consumer costs.

The minister's statement confirms STATEC's July inflation forecast in which it was predicted the next indexation wage rise would occur at the end of the year.

And it is expected to be confirmed in the next consumer price index figures are published on August 5. The last time indexation was applied to salaries was in October 2013, when wages rose 2.5 percent.

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