The accounts seem simple: between 2011 and 2014, the average nominal net gain of private sector workers decreased by 5.7%, but if we consider the effect of increasing prices, the average real gain 2014 – purchasing power – is lower than in 2011 at 11.6%
For employees of Public Service, the reduction was greater, says economist Eugenio Rosa. The loss of purchasing power suffered by these workers was double that seen in the private sector. “Between 2010 and 2014, as a result of the combined effect of the cut in nominal compensation, the huge tax increases and discounts for ADSE, the purchasing power decreased by 22.1%.” And, he adds, this year, “the purchasing power of these workers remain lower than it had in 2010 by 21.4%.”
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