Wages and salaries in Germany - statistics & facts
Germany boasted the highest average annual salary among the largest European economies, at around 65,700 euros as of 2023. This was ahead of France, Italy, Spain and the UK. The German job market is attractive for both national and international employment seekers, especially considering the additional appeal of free movement within the EU. Simultaneously, Germany has been seeing a shortage of skilled workers in various industries. Reasons for this include an ageing population, where older age groups nearing retirement currently outnumber younger age groups ready to join the workforce. The COVID-19 pandemic has affected all European economies as well, with some businesses simply not being able to offer as many jobs as before for financial reasons. The aforementioned free movement may also lead to e.g. German jobseekers, in turn, moving elsewhere in search of vacancies. Still, the development of German wages and salaries showcases some encouraging developments.
