According to Jinshi Data, data from the European Statistical Office showed that the average salary of employees in the eurozone increased by 4.3% in the second quarter, lower than 4.8% in the first quarter. This data provides further assurance that the European Central Bank will seek to cut interest rates next week.
Despite a slowdown in inflation, wage pressures in the services sector remain stubborn, with the volatility partly explained by one-off pay packages German workers received at the start of the year.
Officials are closely watching corporate profits and worker productivity, the latter of which continued to decline in the second quarter, becoming a concern for policymakers.