In Germany the 2000s proved to be a decade of moderate increases in collectively-agreed minimum pay. Agreed pay in real terms rose by 6.7% over the whole period. However, by 2010 real actual earnings had fallen by 4% over the decade and were down to 96% of their 2000 level. As a consequence, the distribution of income between labour and capital has shifted to the detriment of labour. Overall, the years 2000-2010 represent a 'lost decade' as far as pay is concerned.