Basis for solid real wage growth in 2025

The Technical Calculation Committee for the Income Settlements (TBU) has presented its preliminary report. It provides an overview of developments in recent years in wages, incomes, prices, macroeconomics and competitiveness.

Greater uncertainty than in previous years

The TBU estimates that prices will rise by 2.5 per cent this year, but emphasises that the estimate is uncertain.

Uncertainty is particularly related to developments in the krone exchange rate, energy prices and the global economy, with a risk of major changes in trade policy.

"There is greater uncertainty associated with the projection of inflation than we usually have. Tariff barriers and trade wars usually lead to higher prices," comments Knut Aarbakke, head of negotiations at NITO.

The Commission will present a new estimate for inflation on 11 March.

Expectations for this year's wage settlement

Aarbakke is excited about this year's wage settlements in all agreement areas.

- There is a lot of excitement associated with the frontline profession. We must expect average wage growth to be lower this year than last year, but it is difficult to say how much lower.

- The goal is good real wage growth in 2025 as well. For our members, I believe we have a basis for achieving that.

Profitable to be a NITO member

- The TBU figures show poorer wage development for industrial salaried employees than operators in 2024. But if we look at NITO's salary statistics, we are higher.

From 1 October 2023 to 1 October 2024, the average wage growth for NITO members ended at 5.9 per cent. The most comparable TBU figure was 4.9 per cent.

"It shows that our union representatives do a very good job in local negotiations out in the companies, and that it pays to be a NITO member.

All about the 2025 wage settlement