The AIReF warns: labor costs will rise by 3% each year until 2030 with "zero growth" in productivity

The Spanish economy faces a projected annual increase of 3% in labor costs until 2030, with stagnant productivity. The AIReF warns that rising labor costs without productivity improvements could harm competitiveness. Labor costs are expected to rise by 3.3% in 2026 and 2027, while productivity remains unchanged. The potential increase in the Minimum Interprofessional Wage (SMI) could further elevate labor costs. The AIReF also predicts a significant rise in public sector salaries, with a 6.2% increase in 2027, marking the highest growth since the pandemic. The CSIF union urges the government to formalize the agreed salary increase before the upcoming elections.