Lønnsdrift

Lønnsdrift is a Norwegian term that translates to "wage drift" in English. It refers to the phenomenon where actual wage increases in an economy exceed the negotiated increases agreed upon in collective bargaining agreements. This can occur for a variety of reasons, including individual wage negotiations, company-specific bonuses, or shifts in the demand for labor.

When lønnsdrift is high, it means that wages are rising faster than anticipated by official wage settlements. This can have several economic consequences. On one hand, it can lead to increased consumer spending and economic growth if the wage increases are sustainable. On the other hand, if lønnsdrift is not accompanied by corresponding increases in productivity, it can contribute to inflation.

The extent of lønnsdrift is often a subject of debate among economists and policymakers in Norway. It is influenced by factors such as the tightness of the labor market, the level of competition among employers, and the structure of the collective bargaining system. Monitoring and understanding lønnsdrift is important for economic forecasting and for managing inflation and wage growth.