Spain: Figures show how the crisis has hit salaries
A third of workers in Spain earn less than €645 per month, according to research.
Figures published by the Spanish Tax Agency in November 2014 revealed that 34% of Spanish workers – around 5.7 million salaried employees – earned €645 or less net per month in 2013.
In some quarters they are being referred to as the new ‘wage generation’, while some call them the ‘six hundred eurists’. They earn the minimum inter-professional salary, approximately €9,034 a year – €645 per month divided into 14 payments per year, with two extra months included for salary bonuses.
Meanwhile, over 7.73 million salaried workers received a monthly net salary of less than €1,000 per month according to the research. That equates to 46.4% of the total employees in the Spanish labour market. Younger workers are the most affected by these low salaries.
The figures illustrate the impact the economic crisis has had on working conditions in Spain.