Pay growth is accelerating across six leading eurozone economies including Germany and France, according to a new wage tracker based on real-time data from online job postings.

The median wage cited in adverts was 5.2 per cent higher at the end of October than a year earlier — up from annual growth of 4.2 per cent in June and more than three times the average of 1.5 per cent for 2019, the first year analysed by the tracker, a collaboration between the Central Bank of Ireland (CBI) and job search website Indeed.

Reamonn Lydon, a CBI economist, and Pawel Adrjan, economist at Indeed, pointed to “extraordinarily high” wage growth in Germany, where posted wages in October were 7.1 per cent higher than a year earlier. Wage growth in France was 4.7 per cent over the same period.