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Rare earths in danger: German industry warns against production stop!
German industry warns of production stops due to rare earths as rising incomes offset the cost of living.
Rare earths in danger: German industry warns against production stop!
German industry is in the midst of a tight market for rare earths, which could result in potential production halts. Current reports from Mirror According to the industry association initiative “LTH” has sounded the alarm. Reliance on imports from China is leading to increasing concerns about security of supply, especially at a time when innovative technology sectors rely on these materials.
China's decision to regulate the export of rare earths and important semiconductor products is causing considerable nervousness in the industry. This could particularly affect companies operating in the automotive and electronics sectors, which rely on raw materials needed to produce batteries and other high-tech products.
Rising cost of living and purchasing power
In a broader context, the cost of living in Germany has increased in recent months. Consumers perceive life as more expensive, which is linked to nominal price increases. Loud BR However, this inflation must be viewed in the light of rising incomes. Many wages and pensions have increased, which can partially offset the higher prices.
The development of real net wages, which are considered after deducting taxes and social security and adjusted for inflation, is a crucial indicator of the purchasing power of consumers. The net real wage per hour worked rose from 19.12 euros in 1994 to an impressive 24.79 euros in 2024.
Purchasing power and wage increases
After a decline in real wages in 2021 and 2022, wages now appear to have stabilized again. In 2023, for example, the net real wage rose from 23.03 euros to 24.79 euros. This corresponds to a monthly increase of around 280 euros for a working time of 160 hours.
Average wage increases have exceeded inflation and changes in taxes and social security contributions, which has a positive impact on purchasing power. Nevertheless, the adjustment of wages often takes place with a time lag compared to inflation, which can temporarily lead to a decline in purchasing power. Nevertheless, the overall impression points to a gradual improvement in the economic situation of employees.