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20-07-2023, 07:36 PM
Noticias:
The Canaries have on average the second lowest salary in Spain.
There is also a significant wage gap between men and women on the islands.
NEWSROOMFUERTEVENTURA
The Canary Islands was, in 2022, the second lowest salary in Spain, only surpassed by Extremadura, standing at 1,568 euros per month. However, it experienced an increase of 10.8% compared to 2021, according to the IX Adecco Monitor on Salaries of The Adecco Group Institute.
This increase in the average salary of the Canary Islands is the "most outstanding among all" the Spanish autonomous communities, which is equivalent to "a profit of 1,829 euros per year".
Despite the fact that consumer prices in the Canary Islands increased by 7.5% in 2022 compared to the previous year, the archipelago managed to increase its purchasing power by 3% thanks to higher wage growth (+10.8%). This translates into 510 euros more per year and contrasts with the loss of purchasing power in Spain as a whole (-4%).
As for the sectors, in 2022 the average salary increased in the three main sectors of the islands: Services (+11.5%), followed by Construction (+6.6%) and Industry (+5.6%). However, wages in these three sectors were lower than the national average.
THE LOWEST SALARY IN SPAIN, IN EXTREMADURA
Nationally, despite the wage increase, the average wage lost 4% of purchasing power in 2022 due to rising consumer prices.
The study explains that the salary increase in Spain during the last year was 4% (the second largest increase since 2008), reaching 1,822 euros.
However, when considering the variation of consumer prices in 2022, the average wage registers a loss of purchasing power. Even compared to 2008, the Spanish salary loses 7% of purchasing power, during the last five years it accumulates a fall of 2.5%.
In terms of sectors, the report by The Adecco Group Institute reveals that in the three main economic activities of Spain: industry, construction and services, the average salary lost purchasing power.
The construction sector was the most affected, with a 5% reduction in the average salary, which translates into approximately 85 euros less per month or 1,022 euros less per year.
It is followed by the industry sector, with a 4.6% reduction in wages, which means 91 euros less per month or 1,088 euros less per year. The least affected sector was services, which recorded a loss of purchasing power of 3.8%, equivalent to 64 euros per month less or 772 euros per year.
In terms of purchasing power, industry was the most affected during the period 2017-2022, with a reduction of 6.3%, followed by construction with a decrease of 4.4% and services with a decrease of 1.4%.
Comparing wages between full-time and part-time contracts in 2022, an average full-time worker earned €2,095 per month, while a part-time employee earned €863 per month. Over the past five years, the purchasing power of the average full-time wage decreased by 4.3%, while that of part-time increased by 2.4%.
As for the wage differences between large and small companies, in 2022 the wage gap was approximately 578 euros per month or 6,939 euros per year. This gap represents 37% in percentage terms.
However, the wage gap between small and large companies has narrowed, since in 2021 it was 41% and in 2017 it reached 45%. This indicates that average remuneration in small companies is performing better than in large companies.
In regional terms, from 2017 to 2022, all autonomous communities in Spain have experienced a loss of purchasing power. Castilla-La Mancha was the most affected region, with a decrease of 6.1%, followed by Cantabria with 5.9%. Other regions that had a loss of purchasing power of between 3% and 5% were Castilla y León (-4.9%), the Basque Country (-4.7%), Andalusia (-3.6%), Navarra (-3.6%) and the Region of Murcia (-3.3%).
The autonomous communities with decreases in the purchasing power of the average salary of less than 2.5% during this period include Extremadura (-2.4%), Community of Madrid (-2.1%) and Canary Islands (-1.9%), among others. The least affected community was Catalonia (-0.4%).
In summary, the average salary in the Canary Islands ranked as the second lowest in Spain in 2022, although it experienced a significant increase. Nationally, wages lost purchasing power due to rising consumer prices. Construction was the hardest hit sector, while services were the sector with the highest wage growth. Wage differences were observed between large and small companies, and between full- and part-time contracts. In general, all the autonomous communities experienced a loss of purchasing power in the last five years.
The Canaries have on average the second lowest salary in Spain.
There is also a significant wage gap between men and women on the islands.
NEWSROOMFUERTEVENTURA
The Canary Islands was, in 2022, the second lowest salary in Spain, only surpassed by Extremadura, standing at 1,568 euros per month. However, it experienced an increase of 10.8% compared to 2021, according to the IX Adecco Monitor on Salaries of The Adecco Group Institute.
This increase in the average salary of the Canary Islands is the "most outstanding among all" the Spanish autonomous communities, which is equivalent to "a profit of 1,829 euros per year".
Despite the fact that consumer prices in the Canary Islands increased by 7.5% in 2022 compared to the previous year, the archipelago managed to increase its purchasing power by 3% thanks to higher wage growth (+10.8%). This translates into 510 euros more per year and contrasts with the loss of purchasing power in Spain as a whole (-4%).
As for the sectors, in 2022 the average salary increased in the three main sectors of the islands: Services (+11.5%), followed by Construction (+6.6%) and Industry (+5.6%). However, wages in these three sectors were lower than the national average.
THE LOWEST SALARY IN SPAIN, IN EXTREMADURA
Nationally, despite the wage increase, the average wage lost 4% of purchasing power in 2022 due to rising consumer prices.
The study explains that the salary increase in Spain during the last year was 4% (the second largest increase since 2008), reaching 1,822 euros.
However, when considering the variation of consumer prices in 2022, the average wage registers a loss of purchasing power. Even compared to 2008, the Spanish salary loses 7% of purchasing power, during the last five years it accumulates a fall of 2.5%.
In terms of sectors, the report by The Adecco Group Institute reveals that in the three main economic activities of Spain: industry, construction and services, the average salary lost purchasing power.
The construction sector was the most affected, with a 5% reduction in the average salary, which translates into approximately 85 euros less per month or 1,022 euros less per year.
It is followed by the industry sector, with a 4.6% reduction in wages, which means 91 euros less per month or 1,088 euros less per year. The least affected sector was services, which recorded a loss of purchasing power of 3.8%, equivalent to 64 euros per month less or 772 euros per year.
In terms of purchasing power, industry was the most affected during the period 2017-2022, with a reduction of 6.3%, followed by construction with a decrease of 4.4% and services with a decrease of 1.4%.
Comparing wages between full-time and part-time contracts in 2022, an average full-time worker earned €2,095 per month, while a part-time employee earned €863 per month. Over the past five years, the purchasing power of the average full-time wage decreased by 4.3%, while that of part-time increased by 2.4%.
As for the wage differences between large and small companies, in 2022 the wage gap was approximately 578 euros per month or 6,939 euros per year. This gap represents 37% in percentage terms.
However, the wage gap between small and large companies has narrowed, since in 2021 it was 41% and in 2017 it reached 45%. This indicates that average remuneration in small companies is performing better than in large companies.
In regional terms, from 2017 to 2022, all autonomous communities in Spain have experienced a loss of purchasing power. Castilla-La Mancha was the most affected region, with a decrease of 6.1%, followed by Cantabria with 5.9%. Other regions that had a loss of purchasing power of between 3% and 5% were Castilla y León (-4.9%), the Basque Country (-4.7%), Andalusia (-3.6%), Navarra (-3.6%) and the Region of Murcia (-3.3%).
The autonomous communities with decreases in the purchasing power of the average salary of less than 2.5% during this period include Extremadura (-2.4%), Community of Madrid (-2.1%) and Canary Islands (-1.9%), among others. The least affected community was Catalonia (-0.4%).
In summary, the average salary in the Canary Islands ranked as the second lowest in Spain in 2022, although it experienced a significant increase. Nationally, wages lost purchasing power due to rising consumer prices. Construction was the hardest hit sector, while services were the sector with the highest wage growth. Wage differences were observed between large and small companies, and between full- and part-time contracts. In general, all the autonomous communities experienced a loss of purchasing power in the last five years.