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The average wage in the economy has decreased in both the private and state sectors.
According to INSTAT, the average salary decreased to ALL 56.4 thousand in the third quarter, from ALL 56.7 thousand in the second quarter. The largest reduction in salaries was recorded for bankers and IT specialists, although they are ranked as among the highest paid professions in the country, while for other sectors salary changes have been negligible.
But as prices rise, wages do not follow the same trend, a phenomenon that experts say has significantly worsened living standards.
“Reducing the circulation of money circulating in the economy in the form of remuneration, wages is understood to make trade and the provision of services even more difficult. Wage stagnation has produced a deterioration in living standards because inflation has done its job. “The recent price increase promotes the polarization of society and proves the lack of corrective policies in promoting domestic production.”
The strong rise in prices and the low level of income, experts estimate, will put the economy in a vicious circle where citizens will be forced to buy less and less.
“The groups and social strata that are in these salary levels are persecuted both by the increase of prices and by the mechanisms used by the employers that some of them are forced to return in ‘cash’ the money they have received through the banking system. The situation is in danger of deteriorating, these effects are all borne by the final consumer and the increase of taxes and fees from services and basic products should be abandoned.“.
Agriculture, construction, industry activities, trade and services continue to be the lowest paid sectors in the country. This causes many of them to suffer from lack of employees due to the low level of income provided by them.
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