About inflation

Construction wages to rise by 7.2 to 7.8 percent this year

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Construction wages will rise by 7.2 to 7.8 percent this year, with annual inflation of 6.8 percent. In the construction industry and building trade, the increase amounts to 7.15 percent. For the building trade, painters, stone workers, upholsterers, glaziers, pavers, floor layers and well builders, the increase is 7.70 percent. Master woodworkers and joiners will receive 7.25 percent more, while the stone and ceramics industry will see a gross increase of 7.27 percent.

"In the midst of economic challenges and unprecedented inflation, wages for workers in the construction, wood and stone industries will increase significantly above the rolling inflation rate from May 1, 2024. The Bau-Holz trade union has thus shown how important long-term and sustainable agreements are for the security and income of employees," said the employee representatives today. They calculate: "For example, the highest starting wages are in these sectors without vocational training, such as construction, with over 2700 euros, and for apprentices with up to 2680 euros in the 3rd year of training for pavers."

Trade union: wage-price spiral de facto not possible
GBH Chairman and SPÖ Member of Parliament Josef Muchitsch also has a message for all those who see the high wage settlements as a price hike: "The basis for the compensation of inflation is the average of the consumer price index from the last twelve months - so there can be no wage-price spiral, as the wage increase always relates to the last twelve months, i.e. the employees make advance payments for twelve months."