Trade unions have again managed to agree on higher wage increases in recent months. The AWVN, the most important advisor on working conditions for Dutch employers, said it was very concerned about this. “The sharp rise in wage costs could weaken the competitive position and health of Dutch companies.”

In the 25 collective labor agreements agreed last month, wage agreements averaged 5 percent. In June, the average was 4.6 percent, and in May it was 4.5 percent. The AWVN had seen a downward trend before that, but the employers’ association no longer dares to say where the trend is heading now.

The AWVN figures are being closely watched by De Nederlandsche Bank (DNB). Strong wage growth could fuel inflation again. The central bank has previously said it sees the risk of this as minimal. But if average wage increases continue to rise in the coming months, this risk could become more real.

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