As compared to the third quarter 2007 gross wages and salaries of full-time employees in the German processing industry and the service sector increased by 3.0% in the third quarter 2008. Currently the average gross wage is 3105 Euros per month. In the west of Germany the average monthly gross wage increased by 2.9% to 3224 Euros and in the east by 3.4% to 2355 Euros.
However, despite this wage increase consumer prices increased even more by 3.1% so that workers and employees could not benefit from it.
Wages and salaries increased most in mining (5.3%), in the utility sector (4.7%) and in the banking and insurance sector as well as the construction industry (+3.8% each). The smallest wage and salary increase was registered in the hotel industry (+1.9%).
In the third quarter 2008 above average wages and salaries were paid in the banking industry (3 978 Euros per month) and in the car manufacturing industry (3801 Euro). The respective wage increases in these sectors were 3.5% and 2.7%.