The Minimum Wage in Spain and the UK
The minimum wage in Spain is currently EUR965 per month divided into 14 equal payments, and it will rise by 22% by 2019 to EUR1,000 per month. While higher than other European countries, this wage is still lower than the UK’s. If you’re planning to work in Spain, make sure to check out the minimum wage in advance to avoid any financial pitfalls. In addition, make sure to look into your employer’s policies on wage increases before signing up for work.
Spanish minimum wage is EUR965 per month in 14 payments
The Spanish minimum wage is EUR965 per month, spread out over 14 payments. The country ranks high on the gender gap index of the World Economic Forum, and is the eighth-highest in the EU on the Gender Equality Index. The pay gap between men and women is large in Spain, with men earning EUR29,400 and women EUR26,300 per year in 2016. However, Spain has taken steps to make the workplace more equal for both sexes, including a legal requirement that any company with fifty or more employees create an equality plan.
The minimum wage in Spain is different from other European countries. Although working hours are typically 8 hours per day, the minimum wage is EUR965 per month in 14 payments. Employers should make sure that the amount you receive is proportional to the hours you work each day. While Spain’s minimum wage is lower than many western European countries, expenses can vary dramatically in different regions. It is important to check that the minimum wage you receive is adequate to meet the expenses of your new lifestyle in Spain. The minimum wage in Spain is also mandatory, and employers who fail to pay it may face severe penalties.
The minimum wage in Spain was raised last in September 2021. However, the trade unions have been campaigning for an increase in minimum wages even in the short-term. If your employer does not pay the minimum wage, you can also file a complaint with the Spanish Labor Inspectorate. If you get a complaint, you will be fined and may be able to find another job. Furthermore, the Spanish Salary Guarantee Fund works closely with the Spanish Ministry of Labour and guarantees compensation for workers whose salaries are not paid.
It will rise by 22% to EUR1,000 per month in 2019
In a move that will boost the economy, the Spanish government is raising the minimum wage to EUR1,000 a month. The new law was issued by Royal Decree 1462/2018 on December 21 and aims to bring the minimum interprofessional salary in line with that of other European countries. This is good news for workers and employers alike. However, it is a bad news for those who do not pay their workers the minimum wage and are not subject to collective bargaining agreements.
The government is also addressing the issue of the unemployed, extending the indemnity for self-employed people with kids under the age of 13. Previously, only employees could benefit from this scheme, but this new one will cover employees with children up to 13 years old. Furthermore, the duration of eligibility for self-employed people will be extended to the entire time of school closure. Further, the government is considering deferring mortgage payments for three or six months. Moreover, the Minister of Finance will propose the elimination of the 4% real estate acquisition tax, which will stimulate the housing market.
It is higher than other European countries
The average annual wage of workers in Spain is EUR28,500, higher than the minimum wage of most of the European Union. The second highest region, Madrid, earns an average annual wage of EUR25,550, while Valencia and Catalonia both earn about the same. The low hourly wage in Spain is attributed to low productivity, and the large number of immigrants and foreign workers has led to a high labor cost.
However, Spain’s minimum wage is not as high as other European countries’, which has a much lower minimum wage. In the Kaitz index, which measures minimum wage as a proportion of the average gross wage, Spain is ranked ninth among 22 European countries. It is still lower than the minimum wage in the US, Mexico, and Czech Republic, which both rank higher on the index. In spite of the low minimum wage in Spain, Spanish workers are still better off than their counterparts in the US, Canada, and other countries.
Another factor that contributed to the Spanish minimum wage being higher than the average is the low unemployment rate. While unemployment in Spain has declined in recent years, the rate of unemployment is still high at about 15%. According to the Spanish National Institute of Statistics, the unemployment rate is 14.5%. As a result, a minimum wage increase would not be counterproductive, but it is certainly a step in the right direction.
It is lower than the UK
The minimum wage in the UK is relatively high compared to other European nations. However, the UK minimum wage is not in line with the cost of living. The cost of living has fluctuated significantly over the past few decades, and the national minimum wage has not kept up with this trend. Different countries calculate the minimum wage differently, so the amount in the UK may not be as high as it is in other European countries.
The minimum wage in Spain is the seventh highest in the EU, behind France and Portugal. Spain’s minimum wage is lower than the UK’s, but it is still higher than the average wage in the UK. However, in spite of this, the minimum wage is not much higher than the UK’s. The average wage in Spain is just 900 euros per month, compared to around 1,600 euros in the UK.
The cost of living in Spain is much lower than in the UK. In general, salaries are higher in the north than in the south. The cost of living in Spain is cheaper than in the UK, but it still does not meet the standards of the national living wage. You can’t rent a home for a third of your pay in any region of the UK. In Spain, however, rents in the lowest quartile of a city are less than PS425 per month – which is more than the living wage salary after tax deductions.
It is lower than France
The French economy has been relatively resilient during the recent economic crisis, mainly because it is low on external trade and has stable private consumption. However, recovery has been slow, and high unemployment rates continue to worry policy makers. After the start of the crisis, France’s economy remained stagnant as government tax revenue declined and consumer purchasing power fell. Attempts by policymakers to modernize the French economy have been met with criticism. The reform agenda of the former Sarkozy government roiled French society, resulting in a deeply unpopular presidency.
France’s economic strength has been largely attributed to its educated population and first-rate universities. It has a talented workforce, sophisticated financial markets, and strong intellectual property protections. France is also a highly developed nation with the seventh-largest nominal GDP and tenth-largest economy in PPP terms. Its average household income ranks fourth globally. The country is a leading global player in many areas, including education, health care, and human development. France is also home to 29 of the world’s 500-largest companies.
In a recent Better Life Index study, France outperformed other countries in several indicators, including safety, work-life balance, and civic engagement. The assessment based on selected data is lower than France, but the French still far outperform the average of OECD countries in these categories. While money does not buy happiness, it can buy you a higher standard of living. For example, the average net-adjusted household income in France is USD 34375 a year, which is higher than the OECD average.
It is higher than Greece
The increase in the minimum wage in Spain is welcome news for workers. The increase is the largest since 1977 and represents an increase of 22% over the previous year. The increase is intended to alleviate gender-based wage disparities. In addition, the minimum wage is a general rule that applies to all workers, regardless of sex, age or sector. The minimum wage in Spain is set by royal decree, which is a legal process in which the executive passes legislation without the approval of Congress. As a result, it will take effect on January 1, 2019.
The latest increase was a response to a budget agreement. The socialist government of Pedro Sanchez reached a deal with the left-wing anti-austerity party Podemos, which had long called for a wage increase. The decree sets a EUR12,600 minimum wage for all workers, including domestic and temporary workers. The increase will affect an estimated 2.6 million people, or about 15 percent of all wage earners in Spain.
The new Spanish minimum wage will help women as they are disproportionately represented in part-time and temporary work. Furthermore, women hold the majority of part-time jobs in Spain. Increasing the minimum wage will also help to narrow the gender pay gap in Spain, which is 14.2%, according to Eurostat. Therefore, the new wage will be a positive step for women and for the country. This is welcome news for working women and for their families.