Workers’ association calls for “significant wage increases” – Liechtenstein
TRIESEN – The inflation rate in Liechtenstein is now 3.4 percent, which households with high incomes are feeling the effects of. The workers’ association is calling for wage increases of three to five percent for the coming year.
“In Liechtenstein, inflation has reached proportions reminiscent of the 1990s,” writes the Liechtenstein Employees’ Association (LANV) in its general wage demand for the upcoming wage round. The inflation rate is now 3.4 percent. Low-income households would suffer particularly from price hikes, as food, energy, transport and housing account for much larger portions of their household budgets. Losses in real wages in recent years have also made matters worse.
“On the other hand, there is the good economic development and the dramatic shortage of workers with enormous additional burdens for the existing staff,” continues the LANV.
Three to five percent more wages
Of course, the Russian war of aggression and the tensions between China and Taiwan would also exacerbate the economic uncertainties. And companies are also affected by inflation, but sooner or later higher prices would be passed on to customers, so that quite a few companies can even benefit additionally.
According to the LANV, the loss of purchasing power and the additional burdens of the employees from the past few years must be compensated in order to maintain social peace in the country. “Significant wage increases of three to five percent are urgent,” concludes the workers’ association.