A German national flag waves in front of the German federal parliament, Bundestag, at the Reichstag building in Berlin, Germany, Wednesday, May 19, 2021. Three German political parties
The move could boost the income of nearly 2 million people in Germany who earn minimum wage salaries, or about 5% of workers, according to Carsten Brzeski, an economist at ING. He said the move was "clearly significant."did not state when the bigger one-off increase will take effect. Germany's hawkish central bank took the unusual step of publicly criticizing the measure this week, calling it "worrying."Economists and policymakers around the world have been closely watching rising wages as a key component of inflation. In Germany, inflation in October stood at 4.5%, the highest measure in almost three decades, as energy prices shot up and the cost of food climbed.Support for minimum wages in Europe has grown as the power of labor unions has declined.
For what?
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