Spanish government to approve increase in minimum wage on Tuesday

The Spanish Prime Minister, Pedro Sánchez, announced on Monday that the Council of Ministers will approve on Tuesday the increase of 15 euros in the Minimum Interprofessional Salary (Salario Mínimo Interprofesional, SMI) up to 965 euros per month.

Sánchez made this announcement at the Botín Center in Santander, during the inauguration of the Dialogues on the Future of Work conference, organized by the National Directorate of Foresight and Strategy.

"In 2018 we started from a minimum wage of 735 euros and in 2021, after this rise, it will be 965. We are talking about 230 euros of rise in just three years and with a pandemic in between," he said.

The Government's objective is to advance on the path so that the minimum wage reaches 60% of the average salary at the end of the legislature, as recommended by the European Social Charter.

According to Sanchez, raising the minimum wage is a matter of "social justice and dignity," but also "of indisputable economic benefit."

He highlighted that the basic living income ('ingreso mínimo vital') introduced during the pandemic already protects "more than 800,000 compatriots."

Vaccination and recovery

Sánchez has valued the progress of the economic recovery and vaccination.

"As vaccination progresses, Spain accelerates the pace of economic recovery," he explained. According to the prime minister, the economic growth is based on the dynamism of consumption and investment.

Sanchez also stressed the increase during the past six months of the number of contributors to the Social Security system in almost 1.3 million workers, reaching pre-pandemic levels.

Since February, unemployment has fallen by 700,000 people, which has especially benefited women - with 332,000 fewer unemployed - and young people.

Youth unemployment fell by 121,000 people, according to government figures.