it reached its historical maximum.
From its pre-crisis maximum level, the real value of salaries has fallen 43 billion euros, mainly in the construction sector. On the other hand, in the services sector they have risen by some 5 billion euros. Since the start of the economic recovery, wages have increased below productivity rates. This has been particularly noticeable in the manufacturing sector.
MADRID | June 10, 2015 | By Fernando G. Urbaneja | Spanish unions and employers’ organisations signed a two-year-agreement this week to raise salaries, the first hike in three years. Both parties had been debating for months while the government, distant yet vigilant, recommended a raise combining purchasing power with productivity.