Minimum Wage Hike in Spain: A Mixed Bag for Workers
In a significant move aimed at improving the livelihoods of workers, the Spanish government has implemented a notable increase in the minimum wage. However, this change comes with a complex set of implications that may not entirely benefit the lowest-income earners as anticipated.
The Increase and Its Impact
As of January 1, 2025, the Minimum Interprofessional Wage (SMI) in Spain has been raised by 4.4%, bringing the monthly minimum wage to 1,184 euros over 14 monthly payments. This translates to an annual gross income of 16,576 euros. The increase, championed by Minister of Labour Yolanda Díaz, is part of a broader effort to boost the base salary, which has risen by approximately 61% since 2018[2].
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