The minimum wage (SMI) will rise by 5% in 2024. The Government has finally agreed on the increase only with the majority trade unions, CCOO and UGT, after employers rejected the Ministry of Labour’s proposal for a 4% increase.
In the last five years, the minimum wage had already risen by 47%, from €735 per month in 14 payments in 2018, to €1,080 in 2023. It now rises by an additional 5%, with retroactive effect from 1 January, and goes up to €1,134 per month in 14 payments
This new 5% means reaching an increase “well above 50%” since the government of Pedro Sánchez started raising the SMI, said the head of the Labour ministry and leader of Sumar, Yolanda Díaz, who has reproached the Spanish employers’ association for not backing an agreement. “Today the Spanish employers’ association is on the side of ideological interests and not on the side of their country,” she said. The employers gathered at the CEOE employers’ association – who demanded that public contracts with companies should include the 4% rise demanded by the ministry, something the Treasury refused to do – have regretted the “little effort made by the government so that we could enter into the agreement”.
