Why are European Wages So Low?

In this video, we’re going to take a look at the recent decline in European wages, and try our best to figure out what might be causing it.

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[vDaniik]

when I told an american friend that spanish average wage is 19k he asked me wether that was on a monthly basis. I wanted to cry.

[konstantinosramiotis]

Greek here. What's a 'wage'?

[JesusLeee-ir]

Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.

[Xamarin]

"Average wages" is an inferior metric compared to median wages since ultra-high wage earners skew the data higher than most people actually earn. Always use the median wage when comparing wages, not the average wage.

[thor]

1. our population can't afford the stuff we produce because the wages are too low
2. increase exports to sell the stuff our population can't afford
3. lower wages to make our exports more competitive
4. back to 1.
Great economic model!

[cedricdellafaille]

Europeans don't consume enough.. yeah no sht.
If your wage is 2300 after tax and an iPhone cost around 1600euros with VAT you think twice before buying that iPhone or TV, pc, car etc...

[silis]

Please tell me if I'm wrong, but the great decoupling is for me just a sign that we are getting scammed. Productivity increases, inflation increases, and the top 1% is also richer. But our wages and spending capability is in an all time low.

I guess the complete answer is way more complex, but I can't help the feeling that the money is just funeling up, to some big fortunes, while's we are getting scammed

[MrsUnderwriter]

There is no such thing as "Europeans wages". European Luxembourg or Germany will be very different from Romania or Latvia

[mauricio]

I cant CONSOOM more because alll my facking income is going to my landlord who uses it to buy even more property. DO WE SEE THE PROBLEM HERE?

[Hasanaljadid]

European and chinese economy is export based.American economy is consumption based

[Erveon]

The reason Belgium does well on these charts is because there's a government mandated indexation on wages based on inflation (and other factors). In January 2023 because of the high inflation the year prior, every salaried employee in Belgium got an 11.08% wage increase because of this indexation. Worth a mention.

[sirherbert]

Europe at some point in the last 20 years thought the recipe for economic growth ist to compete with the world in low poductivity low wage Jobs. Even now this seems to still be the tactic. Why anybody thinks, especially in light of the demographic issues, this was ever a good idea, is beyond me. Europe needs to strengthen internal demand, even if that means reducing their Exports (oh no, Shareholder at VW won't make as much money)

[vkdrk]

Title: Why are EU wages so low
Video: So, why is this? Well, this will require a whole other video
😂😅
So, this video was a waste of time. I thought this was THE video about it as the title suggests 🤷‍♂️
Your videos really are getting worse...

[Trotsky]

Europe also sucks at job creation. Here in Finland it is extremely difficult to integrate into the labour market even as a skilled worker. In sectors like IT and engineering (historically the best industries to work in) you have to be the best of the best to even be considered.

[thelix]

Life of Czech person, well everything is now 30% more expensive here in Czechia, can we get 30% increased wages? Companies: "Sorry dude I don't speak bigger wages"

[AndrewRedford]

All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.

[wanderingTrader]

The minimum wage in Hungary is 400 euros after taxes. The median is not much higher either. We are happy if we can consume enough oxygen lol

[romanglebov]

The graphs at 2:15 say that _wages_ increased by 175%, while _productivity_ only increased by 54% (you state the opposite). Maybe the labeling is wrong?

[mzo.]

All of this is noise on the simple fact that companies are making record profits and none of this is beings passed down to workers. The myth of trickle down.

[kevefeny]

How the fuck are we supposed to consume without money?