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Definitions. Most of Portugal's employers' confederations advocate raising the national minimum wage to € 625 gross by 2020, a figure which for the UGT is "low". Broadly speaking, the rise of the SMI seeks to “improve the living conditions” of workers, benefiting some two million people. Spain’s Socialist prime minister pushed through a 22 percent increase in the minimum wage law. Average salary in Spain is EUR 47,058 (US$ 57,268). Spain's new government yesterday announced a 5.5% rise in the minimum wage retroactive to January 1, the third major economic initiative the left-wing coalition has announced since taking office this month.. National Living Wage and National Minimum Wage rates increased on 1 April 2020. The minimum wage has been set by the government at $400, per month without social … Minimum wage in Spain, December, 2020: For that indicator, we provide data for Spain from January 1999 to December 2020.The average value for Spain during that period was 702.96 currency units with a minimum of 485.71 currency units in January 1999 and a maximum of 1108.33 currency units in July 2020. MADRID, Spain — The government approved a raise in minimum wages in Spain that will range from $513 to $1,130 per month to support its working, low-income households amid the economic crisis brought upon by COVID-19. All rights reserved. Your privacy is ensured in base of Regulation (EU) 2016/679 (General Data Protection Regulation), Minimum wage in Spain is officially increased to €950 per month, Pensioner Rows 3000 Miles Across The Atlantic For Alzheimer’s Research, Breaking News: Baby Boy Airlifted to Hospital After Being Mauled by Dog, Arrested In Costa Del Sol’s Malaga Cemetery For Trying To Kill His Brother-In-Law At A Wake, Costa del Sol News: Child transferred by helicopter from Malaga clinic. Evolution of Minimum Wage in Spain (courtesy of PORCENTUAL) The minimum wage in Spain has once again become the focus of fierce debate within the coalition PSOE / Unidas Podemos government, with calls on one side to raise it again in 2021 being met by pleas on the other side to keep it at 950 euros. Specifically, the SMI increased by 3.9% in cumulative terms between 2009 and 2015 while average and median wages grew by 5.6% and 10.5%, respectively, over the same period. Spain Raises the Minimum Wage - February 3, 2020 Spain's new Socialist government under Pedro Sanchez raised minimum wage for the 2020 by 5.5% The new rate which came into effect from January 1, 2020 increased to €1,108 euros from last year's €59.8 euros. +34 951 38 61 61 sales@euroweeklynews.com. This is 29 euros more per month than the current amount. The minimum monthly wage grew by almost 60 percent from 2000 to 2020, with salaries increasing from 600 euros a month to 950 euros a month in 2020. © 2018 EWN Media Group. Interestingly, the United States would also fall into this group, with exactly the same federal minimum wage of … The Spanish national minimum wage is about €950 ($1,100) a month. Living Wage Individual in Spain is expected to reach 841.32 EUR/Month by the end of 2020, according to Trading Economics global macro models and analysts expectations. 48 2017 El Salvador THE Spanish Government has officially approved the decree that includes the increase in the minimum wage (SMI) to €950 euros, an increase of 5.5% from 2019. In July, 44% of respondents said … About us; Mayor of Europe; Growth; Smart city; Society ; Interviews; Get involved; GA Economy See all. This statistic shows the opinion of the Spanish population on the implementation of a minimum wage as of May 2020. Facebook; Twitter; LinkedIn; Toggle navigation. On 5 February, Royal Decree 231/2020, of 4 February, was published in the Official State Gazette (BOE). Carlos Silva advocates for his part an increase to 660 euros, to reach 800 euros in 2023. After the trade unions and employers have reached an agreement this week, Spain minimum wage will rise 4% to 736 euros, paid 14 times a year. 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 ($2,154.92) by the end of its four-year term. Denmark, Italy, Cyprus, Austria, Finland and Sweden remain without the minimum wage. The annual national minimum wage per day in Spain stood at 31.6 euros in 2020. This short report accompanies the 2020 increases in the National Living Wage (NLW) and National Minimum Wage (NMW). More. News in Costa Blanca North – Alicante – Benidorm, News in Costa Blanca South – Torrevieja – Alicante. Still needs to be ratified by Council of Ministers. I wouldn't mind moving to Geneva now and working at a minimum wage job. Apart from the fact that its minimum wage level is not high, this is explained by Spain being one of the EU countries where a smaller proportion of employees receive wages around the level of the statutory minimum wage, due to higher collectively-agreed minima in various sectors. Eurostat provides national minimum wages at monthly rates, meaning that, when the minimum wage is paid for more than 12 months per year, data is adjusted to take these payments into account. More. The increase will take effect from January 1st and will be applied retroactively. Minimum wage in Spain, December, 2020 For that indicator, we provide data for Spain from January 1999 to December 2020. Most countries have a nation-wide minimum wage that all workers must be paid. More. Spain's minimum wage was last changed in 1-Jan-2016. 0. Credit: Expatica. Spain Consumer Morale Pulls Back in January, Spain Services Sector Shrinks More than Expected, Spain Tourist Arrivals Fall 84.9% in December, Spain Unemployment Rises the Most in 9 Months, Spain Factory Activity Back to Contraction, Spain Retail Sales Fall the Least in 10 Months, Spain Current Account Surplus Little Changed, Spain Consumer Prices Rise for 1st Time in 11 Months, Oil Hits 1-Year High, Books Best Week Since October, S&P 500 Books New Record Despite Weak Employment, US Consumer Credit Grows Below Expectations, Seychelles January Inflation Rate Highest since 2012, South African Stocks End Higher on Friday. Spain has approved the first nationwide basic income, ... May 27 2020 3:20 AM EDT. Denmark, Italy, Cyprus, Austria, Finland and Sweden remain without the minimum wage. Setting a minimum wage works for the benefit of the employee. As salaries increase, businesses fear an erosion in jobs. The new rate which came into effect from January 1, 2020 increased to … Living Wage Individual in Spain is expected to reach 841.32 EUR/Month by the end of 2020, according to Trading Economics global macro models and analysts expectations. This year’s increase in the … This royal decree establishes the interprofessional minimum wage for 2020. The minimum wage in Poland is an important factor. In 2020, out of the 27 EU Member States, not all of them have a minimum wage. 75.8 % 1 January 2020 Egypt: None; for the public sector the minimum wage is LE1,200 ($68) per month. Subscribe to our free email alert service NMW Spain 2020 The national minimum wage in Spain unchanged this year Since June 2020, the national minimum wage in Spain remained fixed at 1,108.3 € per month, that is 13,300 euros per year, taking into account 12 payments per year. The yearly minimum wage of 12600 euros is arrived at by multiplying monthly wage by 14. 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