The Bank of Spain sees the variable part of the wage agreement as “positive”

The regulator calls for caution when applying the increase in the lowest salaries to 1,000 gross euros per month

The Bank of Spain liked the first part of the wage agreement signed by unions and employers: the one that recommends an increase of 21% of the salary agreed in collective agreements, plus another variable percentage point based on criteria such as productivity, results or unjustified absenteeism. The part that recommends setting a minimum gross salary of 1,000 euros per month in collective agreements is less clear.

“The incorporation of the variable component, based on economic results, is a positive element of flexibility,” say the economists at the Bank of Spain, “although it would be desirable for it to be linked to the specific situation of companies within each sector.”