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Private sector pay is down almost 10%.
Negotiations over cuts in public and private sector pay stalled on Sunday night, Niki Kitsantonis reported.
Private sector pay was up 1.1%, compared to 0.3% in the public sector.
For November alone, private sector pay showed no growth at all from a year earlier.
Ireland and Portugal may need similar treatment.Think bigger and bolderThere are good reasons to make the private sector pay.
With private sector pay rising again, the turnover of nurses and other essential staff is also soaring.
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Private-sector pay, the Bank's main worry, rose by 4.7%, scarcely more than public-sector earnings.
Second, holding down public-sector salaries will become harder as private-sector pay rises.
In Norwich, for example, private-sector pay rates are comparable with those in Newcastle.
When I do that the differential becomes negative: public-sector pay is below private-sector pay, not above it.
In Spain most private-sector pay deals contain clauses that compensate employees if inflation is stronger than expected.
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