Swedish municipal strike ends with wage agreement.
NORDIC BUSINESS REPORT-29 May 2003-Swedish municipal strike ends with wage agreement(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish trade union Kommunal has reached an agreement with local government employers, ending a strike which has lasted for five weeks.
The two-year wage agreement will provide municipal employees with pay rises of between 2.6% and 5%. This will increase wage costs by 3.95% in the first year and by 2.45% in the second year, according to Reuters.
The agreed pay rise amounts to an average of 3.2% per year over the two years. The Swedish central bank has said that pay rises should not exceed 3.5% per year because higher wage increases could fuel inflation.
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|Publication:||Nordic Business Report|
|Article Type:||Brief Article|
|Date:||May 29, 2003|
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