Steeper slide in wages than analysts predicted

Steeper slide in wages than analysts predicted -> … 85684.html

With deflation running at 5-6% this is not too bad, still a plus of 1-3%. Could be worse in a recession…
(Not saying this is good, but always look at the bright side…)

All I can say is that staff at non minimum wages have dropped a damn site more than 3%. If a guy on 45k resigns, for whatever reason, you can now hire a replacement at 32k.

Agree with that. Can’t say it is bad though - wages in this country where quote out of whack with rest of Europe.
One example - avg industrial wage Ireland 2006 ~ 31K, Austria 2006 ~ 23K (top of myhead)

Just goes to show how patriotically minded the “public sector” workers were in foregoing such a large amount of their wages for the benefit of everybody else…