Spain: internal devaluation progresses and employment improves
LONDON | By The Corner | The Spanish Tax Agency published on Monday its monthly statistics on large enterprises. Experts at Barclays explain that among others, the May data show that wages dropped 0.3% y/y (sa and wda) for these firms. The average monthly wage increase in Jan-May period was -0.2% y/y, which coincides with the average monthly salary growth increase since the main 2012 labour market reform in Spain.