May 17, 2021

Salaries fell by 1.8% in Spain in 2017, according to the ILO – La Provincia

Salaries fell by 1.8% in Spain in 2017, according to the ILO - La Provincia

Thereal wages, discounting the impact of inflation, registered a decline in1.8% in Spainlast year, when the economy grew by 3.1%, which was the second worst data among countries in the euro zone, only behind Greece, where salaries fell by 3.5%, according to a report prepared by theInternational Labor Organization(ILO)

According to the data of the institution, real wages inSpainthey registered a drop of 0.1% in 2016, after increasing 1.6% a year earlier and remaining stable in 2014 and decreasing 1.4% in 2013.

The negative evolution of real wages inSpain, as well as in Italy (-1.2%), compared to the increases registered inGermany(0.9%) andFrance(0.1%) were key in the stagnation observed in the salaries ofWestern Europe, after the falls of 1.3% in 2016 and 1.6% in 2015.

Globally, the growth of wages in real terms moderated last year to 1.8% from 2.4% in 2016. If China is not included, global wage growth weakened to 1.1 % from 1.8% in 2016.

"The global growth of salaries in 2017 was not only lower than in 2016, but it registered the lowest growth rate since 2008, being well behind the levels reached before the global financial crisis", highlighted theILO.

In the advanced countries of theG-20, the growth of real wages slowed from 1.7% in 2015 to 0.9% in 2016, and continued to decrease to 0.4% in 2017. InUSA, real wages increased by 0.7% in 2017, in line with the increase registered a year earlier.

TheILOHe noted in his report that, on average, labor productivity has increased more rapidly (+ 17%) than real wages (+ 13%), although the gap between the two trends has been reduced between 2015 and 2017.

"The first indications suggest that this slow salary growth will continue in 2018," said the Director General of the ILO,Guy Ryder, pointing out what"baffling"of observing in high-income economies that the slow growth of wages is accompanied by a recovery in the growth of thePIBand the decrease in unemployment.

On the other hand, in the emerging and developing countries of theG-20, the growth of real wages moderated in 2017 to 4.3% from 4.9% in the previous year. "Workers in Asia and the Pacific have enjoyed the highest real wage growth of all regions between 2006 and 2017. However, even in this region, the growth of wages in 2017 was lower than in 2016, from 4.8% in 2016 to 3.5% in 2017, "the institution said.

In this way,in the last 20 years, real wages have almost tripled in emerging countriesand in development ofG20, while in advanced countries they have increased only 9%, says the report.

The gender wage gap is around 20%

On the other hand, the analysis ofILOnotes that, on a global scale, women continue to receive approximatelytwenty%lower than that of men, stressing that in the most advanced countries the difference in pay between both sexes is higher at the upper end of the salary scale, while in low and middle income countries, it is higher among the lowest paid workers .

"Gender pay disparities are one of the greatest manifestations of social injustice today, and all countries should strive to better understand what is behind this and move more quickly towards gender equality," he added.Guy Ryder.

In the case ofSpain, the wage gap between men and women in terms of income per hour was at an average of14%, below the difference of15.5%in high-income countries, while in terms of weighted monthly income the unfavorable gap for women was13.9%, compared to the average18.3%from high-income countries.

By sectors, the gender wage gap inSpainin private companies reached the18.1%in line with the average18.7%for high-income countries, while in the public sector the difference was9.1%, below the average of14.8%of comparable countries.


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