Italy records lowest average salary growth in EU amid inflation, energy surges
Max Civili
Press TV, Rome
Italy is coming last among all EU countries when it comes to average salary growth, according to a new study released by the Organization for Economic Cooperation and Development- also known as OECD.
The average gross salary in 2021- as stated by the OECD- was an upward estimate of 29,700 euros, which is practically the same amount of earnings recorded in 1991. Italy is also one of a handful of countries not covered in a new EU minimum wage directive to guarantee decent living standards for workers.
Italy is crippled by high inflation and skyrocketing energy costs. Inflation in the country reached 8 percent in June, the highest spike since 1976, with severe consequences on the cost of living.
Energy prices have risen to historic highs in Italy as wholesale gas prices have surged to skyrocketing levels. Businesses complain energy bills have gone up ten times compared to last year and in this scenario thousands of companies risk going bankrupt in the coming months.
Following the collapse of the Mario Draghi government in July, Italian voters will return to the polls on September 25 amid growing public discontent and profound distrust in politics. According to the latest polls, at least sixteen million Italians- or 35% of the electorate- are likely to skip the vote. Most of them believe voting is useless.
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