Spain's new government on Wednesday announced a 5.5% rise in the minimum wa...
MADRID - Spain’s new government on Wednesday announced a 5.5% rise in the minimum wage retroactive to Jan. 1, the third major economic initiative the left-wing coalition has announced since taking office this month.
The government’s move is part of a plan to boost the net minimum wage to 60% of the average monthly pay packet of 1,944 euros by the end of its four-year term. She said the rise in minimum wage to 1,108 euros per month was a “small tool” for tackling inequality. Spain’s Labour Ministry said it would affect more than 2 million people.Prime Minister Pedro Sanchez decreed a 22 percent increase in the minimum wage in late 2018. The biggest jump since 1977, it catapulted Spain from having one of Europe’s lowest minimum wages, relative to the average wage, to one of the highest.
The government is also expected to deliver on a promise to roll back parts of a 2012 labor reform that made it easier for companies to fire workers and drove down wages.
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