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WAGES AND SALARIES TRENDS IN ITALY

WAGES AND SALARIES TRENDS IN ITALY. Dr. Lorenzo Birindelli. September the 26th, 2013 International Trade Union House Brussels. A MODEST REAL GROSS WAGES GROWTH, WITH SOME DOWNTURNS. Key concepts: National- sectoral Collectively Agreed Wages and salaries Earnings (all wages items)

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WAGES AND SALARIES TRENDS IN ITALY

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  1. WAGES AND SALARIES TRENDS IN ITALY Dr. Lorenzo Birindelli September the 26th, 2013 International Trade Union House Brussels

  2. A MODEST REAL GROSS WAGES GROWTH, WITH SOME DOWNTURNS Key concepts: National-sectoral Collectively Agreed Wages and salaries Earnings (all wages items) Inflation (CPI, Deflator)

  3. Gross earnings levels in selected EU countries at constant prices. Full-time and full-year equivalent employee average in the total economy.Private consumption expenditure deflator SOURCE: calculations on OECD data (Dataset LFS - Average annual wages).

  4. Gross earnings levels in selected OECD countries at constant prices. Average compound annual growth rates (%)Full-time and full-year equivalent employee in the total economy.Private consumption expenditure deflator SOURCE: calculations on OECD data (Dataset: LFS - Average annual wages).

  5. ITALY. National-sectoralCollectively Agreed Wages on Earnings Ratio (%)Gross values 1992-2012 SOURCE: calculations on ISTAT data .

  6. National-sectoral Collectively Agreed Wages&Salaries Index, Earnings and Consumer Prices Index (HICP)Yearly growth rates 1993-2014 (%)Wages and Earnings are gross and at nominal values SOURCE: calculations on ISTAT and OECD data .

  7. The fiscal burden on labour (but also the financial base of the Italian welfare state) Key concepts : Tax-wedge Social contribution on employers and employees Personal income taxation

  8. Selected EU countries. Average tax wedge (%) for a single person at 100% of average earnings with no child. Year 2001 and 2012 SOURCE: calculations on OECD data (Taxing Wages Enquiry).

  9. ITALY. Comparison of standard average personal tax rates (%) for a given power purchasing parity. 2001 vs. 2013 SOURCE: author’s calculations.

  10. PROGRESSING DOWNWARDS Key concepts : Individual income distribution Paid and not paid time spans Part-time

  11. ITALY. Employees’ income tax returns(individuals) by taxable personal income classes at 2011 prices (%). 2001 vs. 2011 (euro per year) SOURCE: calculations on DipartimentodelleFinanze(MEF Finance Department) data.

  12. THE GOOD REASONS Key concepts: Checking unemployment Tackling inflation Modest (but positive) employment quantitative trends

  13. ITALY, FRANCE AND GERMANY. Unemployment rates 1990-2014 (%) SOURCE: calculations on OECD data (Dataset: Economic Outlook No 93 - June 2013 ).

  14. ITALY, FRANCE AND GERMANY. Yearly Inflation rates 1990-2014 (%) SOURCE: calculations on OECD data (Dataset Economic Outlook No 93 - June 2013).

  15. THE NEGATIVE SPILL-OVERS (WITH OTHERS DETERMINANTS, TOO) Key concepts: Low productivity (both factors) track Low growth

  16. Selected OECD countries. GDP, Employment and Multi-factor productivity Average compound annual growth rates 1993-2007 (%) SOURCE: calculations on OECD data (Dataset Economic Outlook No 93 - June 2013; Productivity Database – update July 2013).

  17. WHAT WE ARE FACING NOW Key concepts: Manufacturing decline Erosion of the social expenditure financial (and political) bases

  18. ITALY. Actual (including 2013-14 estimates) and potential Gross Domestic Product at constant prices SOURCE: calculations on OECD data (Dataset Economic Outlook No 93 - June 2013).

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