
From inflation shock to a sharp distributional conflict
Wages have fallen behind inflation, while profit-taking has not only fuelled price rises but reduced the labour share.
Author profile

Thilo Janssen is a researcher at the Economic and Social Research Institute (WSI) of the Hans Böckler Stiftung and a correspondent for the European Foundation for the Improvement of Living and Working Conditions (Eurofound), focused on European industrial relations and integration.

Wages have fallen behind inflation, while profit-taking has not only fuelled price rises but reduced the labour share.

Malte Lübker and Thilo Janssen
Real wages could fall by 2.9 per cent in the European Union in 2022.