Annual gross wages increased in nominal terms in nearly all 32 European countries in 2024, with the exception of a very slight decline in Finland. However, this does not take inflation into account. When adjusted for consumer price inflation, real wages slightly decreased in four countries. This shows that the impact of nominal wage increases is reduced when inflation is considered.
So, which European countries saw the biggest real wage gains and cuts in 2024? The figures are based on a single worker without children earning the average wage, expressed in national currencies.
