Report
How resilient have employees been to the various crises since 2018 in Germany, France, Spain, Italy and the euro zone as a whole?
We look at how employees have weathered the various crises (COVID, inflation, consequences of the war in Ukraine) since 2018 in the four largest euro-zone countries and in the euro zone as a whole . To carry out this analysis, we examine: Employment and unemployment rates; The purchasing power of per capita wages and the share of wages in GDP; The purchasing power of household disposable income. We conclude: That the countries where the situation of households and employees has been most resilient to the various crises are Spain and Italy; But even in Germany and France, where real per capita wages fell between 2018 and 2023, there was an increase in the employment rate, a fall in unemployment and an increase in the purchasing power of household disposable income, again between 2018 and 2023.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
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