The average Spanish salary increased by 6.6% in 2021 and reached its historical maximum at 1,751 euros per month
At a time when there is much talk of an income pact to curb inflation, it’s time to analyze how much wages are rising. And yes, the average salary rose sharply last year, 6.6% more than a year ago, but also because the pandemic caused a collapse due to unemployment and the ERTE.
For example, the average salary marked a new historical maximum with 1,751 euros per month. However, if the variation in consumer prices is taken into account, it is found that inflation prevented half of that wage increase and that purchasing power gains were half in 2021: 3.4%. However, this was not enough to prevent the 0.2% purchasing power of average pay from piling up over the past five years. That reduction corresponds to a loss of 4 euros per month or 48 euros per year compared to 2016. And worse, if compared to the year 2008, just before the outbreak of the Great Recession, the Spanish salary 3.1% is losing purchasing capacity, as evidenced by an Adecco report published this Thursday.
In any case, the gap between employees who earn more and less remains wide. For example, the 10% wage earners who earn the least in their main occupation earn a compensation of 556 euros per month, while the 10% blue-collar workers with a higher wage receive an average of 5,001 euros per month. Therefore, in 2021 the highest salaries were paid nine times more than the lowest, although this is the second lowest ratio since 2010.
By sector, the average salary in the sector rose by 5.1% in 2021 to 1,973 euros per month, the maximum historical value. Industry is the sector with a higher average wage than the general average, which means that an employee in this sector earns on average 222 euros more than the rest of the wage earners.
In the case of construction, wages rose by 4.7% last year, with an average salary of 1,701 euros per month, also the highest record to date. For the services sector, the increase in salaries was 7% in 2021 and reached 1,716 euros, the historical maximum for this sector.
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.
