Measures of labor compensation, though still growing at a moderate pace, have shown some signs of acceleration over the past year, likely in part the result of tight labor market conditions. The implications for inflation of faster growth in nominal labor compensation depend on several factors.
Not only do they employ the vast majority of people in most EU countries, but also their role as incubators of innovation and inclusive growth is increasingly recognised. These SMEs need support to build their competitiveness. *** In closing, isolationism is not a viable option.