Spain’s economy minister sees minimum wage hike being approved in…

spain’s-economy-minister-sees-minimum-wage-hike-being-approved-in…




The economy is improving, therefore Spain should be able to approve a long-awaited minimum wage raise in September, according to the economy minister, putting an end to months of back-and-forth between unions and corporations.

In an interview with Spanish station TVE, Economy Minister Nadia Calvino stated that the “modest” hike would take effect in October.

She refused to speculate on the magnitude of the probable increase.

Her left-wing coalition raised the minimum wage by 5.5 percent in 2020, just before the epidemic, raising it to 1,108 euros ($1,314.09) per month.

According to Calvino, positive improvements in the Spanish labor market, with unemployment approaching pre-pandemic levels, now allow for a further increase.

In August, the number of persons registering as unemployed fell by 2.4 percent to 3.33 million, the lowest figure since February 2020, a month before the economy was thrown into chaos by a statewide lockdown.

3.25 million individuals were unemployed at the time.

In Spain, the minimum wage is determined by discussions between labor unions and business representatives, and if no agreement is achieved, the government might impose a settlement.

Last week, Prime Minister Pedro Sanchez stated that the administration desired an “immediate” hike in the minimum wage.

($1 = 0.8432 euros)




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