The average salary marks maximums but the purchasing power dates back to 1996
He Spanish average salary stood in the fourth quarter of 2022 at 1,823 euros per month and scored a historical maximum, with an interannual increase of 4.6%. However, the inflation has made the real purchasing power is similar to that which existed in 1996according to the conclusions of the Adecco Monitor of Opportunities and Job Satisfaction, prepared by the Adecco Group Institute and collected by Europa Press.
Adecco recalls in its report that at these historically high salaries, it is necessary to discount the impact of inflation and its repercussions on the purchasing power of citizens. In the variations accumulated in the last eight quarters, the median salary from the country loses 0.7% purchasing powerthe equivalent of 157 euros less, while a year ago it earned 0.6%.
The highest salaries in Madrid
The behavior of the autonomies follows the national trend, and all the communities reached their maximum historical level at the end of 2022. The higher salaries are in the Madrid’s communitywith an interannual increase of 2.8%, up to 2,135 euros per monthfollowed by Basque Countrywith an average salary of 2,103 euros, 2.5% more year-on-year.
In third position is Navarrewith a remuneration of 1,969 euros per month, 4.5% more. Catalonia It is also above the national average, with an average salary of 1,958 euros per month, with an interannual growth of 4.9%.
The lowest wages in Spainwhich have also reached all-time highs, according to Adecco, are in Extremadura, with a monthly salary of 1,486 euros per month, 4.8% higher than in the same period of the previous year.
He largest salary increase in percentage terms it was registered in Canary Islands, where salaries rose 11.1% year-on-year in the last quarter of 2022, to 1,573 euros. For its part, the most contained rise was that of the Region of Murcia, with 2.8%, up to 1,585 euros on average per month.
The buying power of 1996
Adecco insists in his report that “inflation has a greater negative impact on the purchasing power of the average salary than the fact that more than 3 million employees will earn 30% less of his salary for being in ERTE“during the pandemic.
From the study it is concluded that the purchasing power of the average wage is now slightly lower than it was in 1996. In addition, it is 10.1% lower than the highest purchasing power in the historical series, which continues to be that of 2009.
Adecco compares in this Monitor the purchasing power of the average salary in the fourth quarter of 2020 with that of the same quarter of 2022. In that time, only four autonomies improved, while the remaining thirteen lost purchasing power.
There are up to seven regions where the purchasing power cut of the average salary is more than 600 euros per year. The most unfavorable cases correspond to Navarra, where the loss in that period was equivalent to 1,132 euros per year, followed by 902 euros less in Asturias, or 871 euros less per year in Castilla-La Mancha, among other regions.
Only 4 autonomies have registered improvements in purchasing power
However, some regions have registered improvementsas Cataloniawith 2.2%, and the Valencian Community, with 0.2%. Adecco also sees high spikes in Balearics (8.3%) and Canary Islands (11.3%), although it specifies that the archipelagos were the communities most affected by the “ERTE effect” during the pandemic, for which reason they suffered the greatest losses in the autonomous community.
Among the four regions in which the purchasing power of the average salary increases, the Canary Islands, with 1,919 euros per year of improvement, and the Balearic Islands, with a profit of 1,594 euros, due to the heavy losses they suffered during the ERTE. In Catalonia, purchasing power has gained 497 euros in two years, while in the Valencian Community it has only improved by 34 euros.