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Spain raises the minimum wage by 8% in advance of elections

by John Pierce
July 3, 2023
in Business
2 min read
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Spanish prime minister announced Tuesday that they will raise the minimum wage by 8% this year With the elections approaching. lowest paid in the country full-The workers will soon earn legal minimum of 1,080 euros ($1,172) per month in 14 batches each year. in totalThe annual minimum wage will rise to 15,120 euros.

“Nevertheless, we investigate one of Our promises that I also I think it was our democracy dutyRaise the minimum wage to 60%. of “The average salary,” said Prime Minister Pedro Sanchez. in Senate during the debate with the conservative Leader of the opposition.

he added that government’s “fight to improve working conditions andmore Distributing wealth fairlyjust start.”

Since Sanchez became Spain prime minister in In 2018, the country’s minimum wage was launched up 35% from 735 euros per month. At the same time, unemployment in Spain rate It fell to about 12% – the lowest level since 2008 financial calamity.

However, this year will not put the minimum wage increase in the foreground of Where were they? last yearas the average monthly inflation in Spain hit 8.4% in 2022. Pensioners also saw an increase in payments of 8.5% to keep up buy them power.

But the move Do you lead for a more even distribution of Wealth, Sanchez argued.

“Salaries of The working class and the middle class have not increased as much as they do now should You have over the last hold due of economic model based on on reduce wages to attract Foreigner business. we need To change that, Sanchez said. In 1999, the average Spaniard needed four worth of salaries for buy an average house. Now, it’s eight.”

Opposition leader Alberto Nunez Figo said he supported an increase in the minimum wage but criticized Sanchez for Leadership up He blamed inflation of populism.

“All you care about is resisting and destroying your opponent,” said the Popular Party leader. in heated discussion.

Nationally, regionally and locally, 2023 is big election year for Spain.

Meanwhile, deputies of Spain main business organization The CEO refused show up To a meeting to discuss the minimum wage increase, charging government of Do not listen to their arguments.

the organization Argued that the minimum wage should An increase of just 4% to €1,040 per month as companies also suffer from inflation.

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