The wage increases agreed in Spain stood at 1.06% as of the end of 2016 – Investing.com Spain

MADRID (Reuters) – The labour agreements registered in Spain closed last year with a salary increase average of 1.06 per cent, its highest level since 2011, when it picked up 1.98 per cent, according to data released Monday by the Ministry of Employment.

Despite lead to a loss of purchasing power before the jump in inflation in December to 1.5 percent in fuel prices, the wage increase implies a substantial improvement with respect to the average rise agreed in 2015, which was 0.72 per cent.

The Employment statistics, which collects data up to 31 December, notes important differences between the conventions of enterprises, where the average increase stood at 0.71 per cent, and the higher level, reaching 1.08 percent.

the priority of The enterprise agreement on the sectoral introduced in the labor reform of 2012 of the people’s Party is one of the most contested by the trade unions and the left opposition in the Congress, that requires the repeal of this reform.

The increase of wages in Spain suffered a slowdown from 2012, already in full crisis, when the social partners agreed on the moderation in the rise in the payroll to avoid further layoffs and to improve the competitiveness of the economy.

The representatives of the employers and trade unions came later in 2015 to another agreement to recommend to enterprises and workers wage increases of up to 1 per cent this year and to 1.5 percent for 2016.

face-to-2017 not yet have reached no agreement, with the CCOO and UGT calling for minimum increments of 1.8 per cent in keeping with the recovery, after two consecutive years with GDP growth projected at 3.2 percent.

legal Notice: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.