The Executive agrees with the unions and without the employers’ association an 8% increase of the Interprofessional Minimum Wage that will affect almost three million workers, according to the announcement made today by the President of the Government, Pedro Sánchez

The President of the Government, Pedro Sánchez, announced on Tuesday that the Executive will approve a new increase of the Interprofessional Minimum Wage (IMW) of 8% which will place it at 1,080 euros per month in 2023, in fourteen payments, after reaching an agreement with the unions UGT and CCOO.

The President of the Government has advanced the increase of the Interprofessional Minimum Wage that will be applied retroactively from January 1st of this year, with the objective of placing it at 60% of the average Spanish salary. He did this during his first appearance of the year in the Senate.gente en las calles de Palma

The announcement was made after a meeting between the general secretaries of CCOO and UGT, Unai Sordo and Pepe Álvarez, respectively, and the Minister of Labor, Yolanda Díaz, who closed the agreement in which the CEOE did not want to participate.

According to Sánchez, Spain is the second country in the OECD that has increased the Interprofessional Minimum Wage the most, a 36% increase since the start of the current government. From 735 euros to 1,000 euros per month in 14 payments.

For its part, PIMEM, the Federation of Small and Medium Enterprises of Mallorca, has shown itself to be in favor of the increase in the minimum wage and has criticized the CEOE for withdrawing from negotiations with the Ministry. The Mallorcan employers’ association believes that it will affect about 40,000 workers in the Balearic Islands, due to the implementation of collective agreements with higher salaries that the majority of workers in the Islands adhere to, such as those in the hospitality or commerce industries.

The CCOO union, through its Employment Secretary, Yolanda Calvo, adds that the most disadvantaged groups are women and those under 35 years of age, as they are those who usually have the lowest salaries. Calvo considers that this improvement will reach around 9.1% of the salaried workers in the islands.