1.3 million workers have the salary frozen in the year of record inflation

The workers regulated by agreement accumulate in terms of year a rise in average salaries of 1.49% at the end of November, but there are 15.4% of the total that

1.3 million workers have the salary frozen in the year of record inflation

The workers regulated by agreement accumulate in terms of year a rise in average salaries of 1.49% at the end of November, but there are 15.4% of the total that has had to face the year with the highest inflation rises From the last three decades with their salary frozen or even reduced.

This is how it comes from the latest statistics of collective work agreements published by the Yolanda Diaz Ministry this Friday, which collects a total of 1.13 million workers in the country have had the salary frozen or even cut so far as it is going from 2021. 15.4% of 7.33 million salaried employees in the country that are governed by an agreement.

The percentage of workers with frozen salaries has gone by 0.4% in 2019, to 5.9% in 2020 and to be located now at 15.4%.

In total, two companies have applied salary drops to 239 workers, while 94,023 companies have maintained the salaries of their employees unchanged even though inflation presses their pockets.

The rest of the companies that are also regulated by agreement have increased the salary of their employees, although for the time being moderately: 1.49% on average.

These slight salaries are leading trade unions to demand more powerful increases in negotiations, since families have to deal with prices 5.6% higher than those in the country a year ago, and accumulate a Loss of purchasing power of about 9,000 million so far this year, according to function calculations.

"The problem is that in 2021 the salary increase agreed and registered so far has continued to fall with respect to 2020. Since the beginning of the pandemic, there has been a relevant increase in inflation, however, the health crisis and economic effects Associated with it have caused a fall from the salary increases agreed, fundamentally in business agents, "says the Confederal Secretariat of Trade Union Action of CCOO in the Collective Bargaining Balance Report, which the world has had access.

In this way, "if the inflation forecasts for this year are met, we would meet again before a scenario of clear loss of purchasing power," he denounces the union of Unai deaf.

These pressures and social discomfort has already taken some companies as merchant to announce a rise in salaries for their 93,000 employees according to the closure of the IPC of 2021, which will be around 5%, for next year. The question is that movements like this will contribute to the generation of the so-called 'second round effects' in inflation.

The European Central Bank (ECB) and the Bank of Spain have time alerting the risk of two effects that could be pernicious for the economy. One, that the rise in prices - which is primarily driven by the offer shock that has occurred after the COVID and the increase of energy - leads to equivalent salary rises; and two, that companies do not endure the narrowing of margins by the rise of costs and decide to transfer it at prices.

Both effects would contribute to creating more inflation and economy it would fall into a very dangerous inflationary spiral, which would force central banks to harden monetary policy before planning.

This in turn entails a risk for economic recovery, especially given the high indebtedness of the public and private sector, and could further delay the recovery of the levels of economic activity prior to the pandemic.

Although to date the salary increases are moderate, it is concerned that there are companies that follow this estela and decide to raise salaries with force next year, in addition to that there are many companies in the country that are not regulated by agreement and whose decision on salaries does not It can be measured or known in real time.

The rises have not been homogeneous in all sectors. The Agreements of the Information and Communications sector, which many telecommunications companies are adscribed, are those who have agreed a greater wage rise so far this year, of 3.30%; Followed by the construction, with a revaluation of 2.40%. They also rise more than the average salaries of agriculture, livestock, forestry and fishing (+ 2%) and the salaries of the educational sector (+ 2.02%).

These are the sectors in which, in general terms, the employment has been behaved in what is going for exercise.

On the contrary, real estate activities are in which the freezing of salaries has been more common, and there have also been sectors with very modest salary variations: + 0.65% in financial and insurance activities, + 0.73% in Public Administration and Compulsory Social Defense and Social Security, + 0.81% in Hospitality or + 0.99% in household activities such as employers of domestic personnel and producers of good use.

Date Of Update: 10 December 2021, 20:43

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