Wage rise by 2.65% identified in this update.
In a significant development for the Austrian workforce, representatives from the chemical industry and labor unions have reached a collective bargaining agreement, marking the first deal of the current spring wage round. approximately 50,000 employees in the industry will see a wage and salary increase of 2.65 percent effective from May 1st.
This agreement comes after thirteen hours of negotiations during the third round of talks, which occurred in the early hours of Thursday. The deal ensures that the chemical industry remains below the rolling inflation rate of 2.75 percent, a significant factor in wage negotiations. Wage increases will range from a minimum of 80 euros to a maximum of 113 euros.
Union leaders noted that the negotiations were challenging given the current economic conditions. In a joint statement, Johann Schernberger (PRO-GE) and Mario Mayrwöger (GPA) pointed out that they had successfully negotiated sustainable wage and salary increases despite these difficulties. The minimum increase of 80 euros was particularly beneficial for low earners.
The chemical industry, in this agreement, has maintained a "lived social partnership," as described by Ernst Gruber, the chief negotiator of the Federation of Austrian Chemical Industry (FCIO). He added that the accord resulted in an economically viable collective bargaining agreement, with an average impact of 2.02 percent, while still ensuring fair remuneration for employees.
As the spring wage round commenced on March 19 with negotiations in the paper industry, this Chemical sector agreement marks progress in ongoing efforts to align wages with inflation and maintain employee purchasing power amidst challenging economic conditions.
- The recent economic and social policy agreement between chemical industry representatives and labor unions includes wage and salary increases for approximately 50,000 employees, demonstrating an effort to balance industry finance and ensure fair business practices for the workforce.
- Despite the challenging economic conditions, the chemical industry has reached a viable collective bargaining agreement with labor unions that guarantees sustainable wage and salary increases, exemplifying the importance of social partnership in economic and business decision-making.
