Workplace Report November 2021

European news

Spanish prices outstripping wage increases

Prices are outstripping wages in Spain according to the latest figures, and, while the trend for prices in up, the trend for wages is down. The most recent wages figures, which are for negotiated pay increases rather than earnings, show an average wage increase of 1.5% for settlements coming into force in the first nine months of 2021. This is lower than the 1.8% recorded for 2020 and the 2.2% recorded for 2019.

Based just on settlements signed this year, pay increases in 2021 are even lower at just 1.4%.Prices meanwhile are soaring with inflation hitting 4.0% in September.