Labor costs in Spain up 3.8% in the second quarter, according to the INE
Average wage costs per employee and month, including salaries, premiums and private insurance, increased by 3.8% in the second quarter of the year compared to the same period of the previous year, to EUR 2,871.64, according to data released Friday. from INE. .
Behind this progress is the increased number of hours worked during a period when the ERTE was no longer in force due to Covid-19 and other modalities were turned on.
In the second quarter, wages (all remuneration, both in cash and in kind) increased grossly by 4.3% year-on-year, to an average of EUR 2,153.88 per employee per month, the highest figure in a second quarter since the start. of the series, in the year 2000. However, Spain remains the largest economy in the Eurozone, where the pace of growth is slower.
The good news comes from the hospitality industry, where wage costs are again rising the most. According to data from INE, wages in this activity, which is closely linked to the recovery of tourism, increased by 40.3% between the months of April and June. In the first quarter they were already up almost 68%. And those are already at 1,242.84 euros per employee and month.
It should be taken into account that the growth data relates to a period, the second quarter of 2021, when there were still some restrictions and prevention measures derived from the pandemic. However, there is no denying that the sector’s recovery has been brilliant. In fact, it also noted a sharp increase of 8.2% in the wage cost per hour worked to 10.25 euros. However, the national average is 16.35 euros. In other words, the salaries are increasing, but they are still the lowest of all the activities recorded by the INE.
On the other side of the table are the salaries of the financial sector, with a decrease of 3.5%, bringing the salary to 4,085 euros per employee. That is almost 1,000 euros less than in the first quarter.
Also, the INE reports that 145,053 job openings were registered in the second quarter of the year, the highest number since 2013, with a job vacancy being viewed as a recently created job or one that is not being filled or about to become vacant and for which the employer is actively taking steps to find a candidate from outside the company.
94.1% of the companies asked by the statistic answered that they had no vacancies between April and June because they did not need additional employees, while 3.2% stated that they had no vacancies due to high hiring costs.
Nearly nine out of ten vacancies in the second quarter, at 89.7%, were concentrated in the services sector, with 130,147 vacancies. It is followed by industry, with 9,653 vacancies (6.7% of the total), and construction, which added 5,252 vacancies (3.6% of the total).
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
