BRUSSELS (MNI) – Wage moderation in the Eurozone is very important
for employment and job creation, European Central Bank President
Jean-Claude Trichet said on Thursday.
“As always, we consider how important it is to maintain a
moderation in terms of wages,” Trichet told reporters after the ECB
Governing Council meeting.
“When I look at the employment level and the unemployment level
since the beginning of the crisis, I see that in practically all
countries unemployment has [risen] but in two it has diminished, and in
these two countries unit labor costs have been exemplary,” he said.
“The two countries are Germany and Austria,” Trichet said. “Wage
moderation is very important for employment, job creation and sustained
job creation.”
German steel workers’ union IG Metall has said it will push for a
6% rise in salaries for around 85,000 workers when pay negotiations
start later this month.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
[TOPICS: MT$$$$,M$$EC$,M$X$$$,M$$CR$,MGX$$$]
