NationStates Jolt Archive

source: italian daily "La Repubblica", www.repubblica.it
data: IRES-CGIL (statistical services of the largest italian workers' union)

Italy is the country of the euro-zone whose employees have lost more buying power since 1998.

Confronting with the buying power of the average wage in year 1998, it appears:

UK: +15,2% in 2005, +18,4% in 2006 (netto average yearly wage is 30,8 k€)
France: +14,1% , +15,9% (21,5 k€)
Eurozone: +8,9% , +10,1% (no data given)
Spain: +4,7% , +5,3% (16,5 k€)
Germany: +5,5% , +5,0% (24,0 k€)
USA: +6,0% , +4,7% (19,5 k€)
Italy: +0,8% , +2,6% (16,5 k€)

To sum it up, comparing with the inflation, the average italian employee has lost an equivalent buying power of 1900 €/year in the last 9 years.

Btw, inequality in Italy:

Standard average employee: net monthly wage 1171 €
Average employee in southern Italy: 969 €
Female average employee: 961 €
Employee of a small enterprise: 866 €
Non-EU immigrate employee: 856 €
Young (age <34) employee: 854 €

I'd say that Italy needs higher salaries now, or the internal market will fall.

Yeesh. Is the drop in buying power due to the Italian government not upping the minimum wage more regularly, or just business owners not wanting to pay more?

That's not the only problem, A month or two ago, a study on Italy's economy showed that their biggest industry was (insert drumroll) organized crime.

Hmm. I don't live there, but I've visited Italy a few times. Isn't it fairly relaxed and non-consumerist in the smaller towns anyway? What would they need a good economy for if they get by on local trading?

source: italian daily "La Repubblica", www.repubblica.it
data: IRES-CGIL (statistical services of the largest italian workers' union)

Italy is the country of the euro-zone whose employees have lost more buying power since 1998.

Confronting with the buying power of the average wage in year 1998, it appears:

UK: +15,2% in 2005, +18,4% in 2006 (netto average yearly wage is 30,8 k€)
France: +14,1% , +15,9% (21,5 k€)
Eurozone: +8,9% , +10,1% (no data given)
Spain: +4,7% , +5,3% (16,5 k€)
Germany: +5,5% , +5,0% (24,0 k€)
USA: +6,0% , +4,7% (19,5 k€)
Italy: +0,8% , +2,6% (16,5 k€)

To sum it up, comparing with the inflation, the average italian employee has lost an equivalent buying power of 1900 €/year in the last 9 years.

Btw, inequality in Italy:

Standard average employee: net monthly wage 1171 €
Average employee in southern Italy: 969 €
Female average employee: 961 €
Employee of a small enterprise: 866 €
Non-EU immigrate employee: 856 €
Young (age <34) employee: 854 €

I'd say that Italy needs higher salaries now, or the internal market will fall.

Dear god thats shit - now I know what my mate meant when he said, "Italy is in the G8?" - Christ, those figures above make the average NZ wage look pretty damn good!