The wage increase in the agreement reaches 2.64%, 4.6 points below the CPI

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The average salary increase agreed in collective agreement rose to 2.64% until Octoberthree tenths more than a month before, but 4.66 points below the inflation rate which stood at 7.3%, according to the advance data. According to updated statistics from the Ministry of Labor, this increase up to October is more than one point higher than the same period last year, when it was 1.55%.

The increase in salaries covered by agreements has been rising every month since the beginning of the year when it was 2.01% in a context of high inflation where, despite these increases, wages continue to lose purchasing power. By type of agreement, the average salary increase was 2.94% for company workers and 2.62% for higher-level workers.

By sectors, the highest wage increase was for the industry with 3.18%, followed by construction, with 3.03%, while in agriculture it was 2.46% and in services, 2.37%. On the other hand, the statistics show that 1.9 million workers covered in a collective agreement had some kind of wage guarantee clausealmost double that in the same period of 2021, when there were 1 million.

However, these figures assume that only one in four wage earners Under the agreement, it has these protection mechanisms against price increases. Of the 393 agreements with clause -which implies the review of salaries normally based on the behavior of the year-on-year consumer price index (CPI)– 294 had a retroactive effect and 99 were without these effects. All the data up to October correspond to 2,801 collective agreements with known and registered economic effects up to that month in 775,900 companies and affecting 8 million workers.

Source: lainformacion.com

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