Labor sets a 5.3% increase in the minimum wage, up to 1,286 euros per month

The Ministry of Labor is expediting the process to increase the minimum wage by 5.3% to 1,286 euros per month, ahead of elections. This decision follows a meeting with social agents where no progress was made. The increase exceeds the experts' recommendation of 4.9%, amounting to an annual total of 18,004 euros. The deadline for public contributions is November 16, allowing the government to approve the decree before the elections. Historically, unions have supported minimum wage increases, but the employers' association has often opposed them. A key union demand to prevent wage absorption in minimum wage increases remains unaddressed, with unions indicating they may not support the agreement without resolution on this issue.