Germany's largest industrial union, IG Metall, has reached a significant wage agreement with employers that includes a total wage increase of 5.5% over 25 months, affecting 3.9 million employees.
The agreement comes during a critical phase for the German economy, as IG Metall emphasizes that the increase will provide workers with more options regarding their time and compensation.
Negotiations were intense, lasting 18 hours as IG Metall's initial demand of 7% met resistance from employers who originally offered just 3.6%.
This deal, monitored closely by the European Central Bank, highlights the ongoing tensions and adjustments in the labor market amid inflationary pressures.
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