Canada markets open in 3 hours 28 minutes
  • S&P/TSX

    19,800.61
    +20.64 (+0.10%)
     
  • S&P 500

    4,337.44
    +17.38 (+0.40%)
     
  • DOW

    34,006.88
    +43.04 (+0.13%)
     
  • CAD/USD

    0.7413
    -0.0020 (-0.27%)
     
  • CRUDE OIL

    88.84
    -0.84 (-0.94%)
     
  • Bitcoin CAD

    35,435.69
    +279.22 (+0.79%)
     
  • CMC Crypto 200

    562.42
    +2.91 (+0.52%)
     
  • GOLD FUTURES

    1,931.60
    -5.00 (-0.26%)
     
  • RUSSELL 2000

    1,784.24
    +7.74 (+0.44%)
     
  • 10-Yr Bond

    4.5420
    0.0000 (0.00%)
     
  • NASDAQ futures

    14,852.50
    -82.75 (-0.55%)
     
  • VOLATILITY

    17.52
    +0.62 (+3.67%)
     
  • FTSE

    7,629.67
    +5.68 (+0.07%)
     
  • NIKKEI 225

    32,315.05
    -363.57 (-1.11%)
     
  • CAD/EUR

    0.6993
    -0.0022 (-0.31%)
     

Dutch metal workers union agrees 9% pay rise through end 2023

AMSTERDAM, Sept 22 (Reuters) - Dutch union FNV said on Thursday it had struck a deal for workers in the metals and electric sector to receive an average pay increase of around 9% from Dec. 1 through the end of 2023.

Around 160,000 workers for companies including ASML, Philips, Siemens and NXP are covered by the arrangement.

The increase is higher than the average 3.3% increase in other industries, according to employers' union AWVN.

While labour shortages are common across the Dutch economy, with unemployment at 3.8% in August, unfilled jobs are especially concentrated among technical workers.

The news comes a day after the government announced a last-minute deal to cap household energy costs, resembling moves in other European countries, as part of an overall 18 billion euro ($18 billion) package to help soften the pain of soaring prices.

The Dutch economy is expected to grow 4.6% this year, according to government forecasts. However, inflation is running at 12%, according to Statistics Netherlands.

($1 = 1.0126 euros) (Reporting by Toby Sterling Editing by Mark Potter)