Home » Industrial relations » National industrial relations » Spain: government and social partners secure agreement on a 5.5% increase in the minimum salary Spain: government and social partners secure agreement on a 5.5% increase in the minimum salary On 22 January the government, employers, and trade unions secured an agreement that will raise the monthly minimum inter-professional salary (SMI). The monthly salary floor will rise from €900 to €90 (gross and over 14 month). The agreement, which should be taken up into a decree-law, stands as the first major announcement from the new government of Pedro Sanchez. In fact the Socialist Party and Podemos Party coalition government has set the goal of reaching an SMI equivalent to 60% of Spain’s average salary within 4 years, and which would result in a significant increase by 2023 (see our article 11571). Through . Published on 23 January 2020 à 15h52 - Update on 23 January 2020 à 15h55 Resources Spain’s SMI playing ‘catch-up’. Spain’s SMI lags other large economy equivalents and is making serious attempts at catching up fast. Frozen during the crisis years, the minimum salary grew 8% in 2017, before jumping 22.3% in 2019, and a further 5.5% now in 2020, making for an overall rise of 44.5% in the space of four years. This latest rise will drive monthly salaries of €900 (gross) paid over 14 months as set by Spanish labor legislation up to €950 (gross and over 14 months).… Need more info ? Contact mind's on-demand study service Which service do you want to contact :WritingCommercial serviceTechnical SupportFirst name Last name Organization Function email* Object of the message Your messageNameThis field is for validation purposes and should be left unchanged. Essentials Les dernières publications Supporting parenthood in the workplace: a win-win strategy Supporting employee carers: a CSR challenge Analyzes Les dernières publications Paternity leave: data observations from 41 countries EU: during H1 2022 five EU Member States have raised their minimum salary levels