THE national minimum wage in Spain is being raised by 4.5% in 2024, it was announced today.
The Ministry of Labour and trade unions agreed the new rate this Friday, January 12.
However, the 4.5% rise is some 0.5% below the trade union’s target of 5%.
The national minimum wage will now see full time workers paid €1134 a month.
A €54 rise, it will affect some two million workers from January this year.
Businesses also participated in the talks, although they pushed for a 3% minimum age increase, with an extra 1% to reflect inflation.
They have also demanded the government create laws to help businesses manage the increase in wages from public contracts.
Although trade unions also shared this demand, the Ministry of Finance has rejected this condition.
The agreement puts an end to months of negotiations, which began when Yolanda Diaz, Minister of Labour and Social Economy, proposed wages must rise to reflect inflation.