IDEAS home Printed from https://ideas.repec.org/p/cbi/ecolet/7-el-22.html
   My bibliography  Save this paper

Wage Growth in Europe: Evidence From Job Ads

Author

Listed:
  • Adrjan, Pawel

    (Central Bank of Ireland)

  • Lydon, Reamonn

    (Central Bank of Ireland)

Abstract

Timely data on wage growth has historically been limited, especially in Europe. While central banks monitor wage developments for signs that could impact the inflation outlook, finding accurate wage growth data has been difficult. We have developed a new monthly wage growth tracker based on data from millions of online job postings on Indeed in six euro-area countries and the UK. Growth in euro-area posted wages accelerated in 2022, reaching 5.2% year-on-year in October — more than three times the pre-pandemic rate — while growth in the UK was 6.2% and appears to have peaked at this level. Wage growth has also become increasingly broad-based, with most occupational categories seeing annual growth in posted wages above 3%. These trends align with central banks’ expectations for wages to continue to grow well above pre-pandemic rates in the near-term.

Suggested Citation

  • Adrjan, Pawel & Lydon, Reamonn, 2022. "Wage Growth in Europe: Evidence From Job Ads," Economic Letters 7/EL/22, Central Bank of Ireland.
    • Handle: RePEc:cbi:ecolet:7/el/22
    as

    Download full text from publisher

    File URL: https://www.centralbank.ie/docs/default-source/publications/economic-letters/wage-growth-europe-evidence-job-ads.pdf?sfvrsn=42cc9a1d_8
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:cnb:ocpubv:as23 is not listed on IDEAS
    2. Gόrnicka, Lucyna & Koester, Gerrit & Radowski, Daniel & Gautier, Erwan & Peinado, Mario Izquierdo & Stiglbauer, Alfred & Wittekopf, David & Puente, Sergio & Duarte, Claudia & Martins, Fernando & Basso, 2024. "A forward-looking tracker of negotiated wages in the euro area," Occasional Paper Series 338, European Central Bank.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbi:ecolet:7/el/22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Fiona Farrelly (email available below). General contact details of provider: https://edirc.repec.org/data/cbigvie.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.