Economist Santiago Niño Becerra questions the increase in the interprofessional minimum wage proposed by the Ministry of Labour and calls for reflection on how it is set. The current minimum wage is €17,094 gross per year.
According to marca.com, economist Santiago Niño Becerra has assessed the intention of the Ministry of Labour to raise the interprofessional minimum wage (SMI) and has demanded that the measure be taken more thoughtfully. He has made his observations public on his social media.
The economist believes that the SMI is the same across the country, although its purchasing power varies by region. In his words, "The SMI is the same throughout Spain and its purchasing power has nothing to do with Amorebieta, Bizkaia and Bailén, Jaén."
Niño Becerra also points out the capacity of companies to absorb the increase, which would occur before the general elections on November 29. According to him, some companies could afford an SMI with a ten percent increase over the current rate, while others could not increase it at all.
The economist also reminds us that the SMI is designed for a 40-hour work week. He estimates that in Spain there are between 3.5 and 4 million people with a contract of less than 40 hours who do not receive this salary.
Regarding the current figure, the SMI is €17,094 gross per year, distributed in 14 payments of €1,221 per month. The Ministry of Labour, led by Yolanda Díaz, has not yet specified the percentage of the increase, while the unions are demanding a seven percent increase, which would raise the SMI to €18,291 gross per year.
For Niño Becerra, the determination of the minimum wage depends on a political decision, although it should be based on other factors.
"The SMI depends on a political decision, but it is a purely technical concept that should depend on the accounting of companies and should take into account the price level of each area."
The economist concludes that the minimum wage needs deeper reflection from the parties.
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