Austria’s IT Sector Could Be the Key to Fighting Inflation in 2025
Negotiations between the Austrian Chamber of Commerce (WKO) and the Austrian Trade Union Federation (GPA) concluded last year after nine rounds of talks. Despite initial low expectations, the GPA has expressed optimism about the IT sector's potential to combat inflation and boost domestic demand.
The talks, which began in early 2022, stretched over nine rounds before reaching a conclusion. Throughout the discussions, neither side anticipated a swift breakthrough.
GPA's lead negotiator, Sandra Steiner, has highlighted the IT industry's resilience. She believes the sector's robust value creation and high demand for skilled workers position it to absorb inflationary pressures and bolster domestic demand. Steiner has called for salary increases above the projected 3.5% inflation rate in 2025 to safeguard purchasing power and maintain international competitiveness. However, the GPA has accused employers of not presenting any offers during the talks.
The next meeting between WKO and GPA is set for November 24. Both parties will likely continue to discuss strategies to mitigate inflation's impact on the Austrian economy, with the GPA emphasizing the IT sector's potential in offsetting price increases.
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