wages latest publications

September 26, 2022

Spain | Imported inflation and incomes pact

Inflation has returned and has done so at rates not seen for decades in most developed economies. Spain has not remained unaffected by this episode of global inflation.

June 27, 2022

Europe | Minimum wage: from symptoms to causes

On June 7, 2022, the European Parliament and EU Member States reached an agreement on the Directive on adequate minimum wages. Despite the arrival of this Directive, differences in minimum wages between EU Member States will continue to exist for as long as there is no convergence in productivity and employment rates.

June 16, 2022

Mexico | Wage distribution deteriorated and no signs of improvement

The growth of employment, and consequently the low levels of unemployment, have made it possible to increase the total wage bill, which is currently 3.0% above the pre-pandemic level; however, this gain has been due to the generation of low-paid jobs and the loss of employment of more than 2 Minimum Wages (MW)

May 30, 2022

Spain | Chronicle of an (un)announced inflation

The inflation woes currently afflicting us are well known by now, as are the causes, consequences and all the risks they entail. The response so far, while well-intentioned, has failed to solve the underlying problem and more forceful monetary policy action is almost inevitable as we move forward.

May 10, 2022

Mexico | Formal employment slows down in April, and job insecurity continues to increase

The generation of low-paid jobs characterizes the recovery of the labor market. Despite the high inflation levels, real wages and the wage bill maintain positive growth. We expect formal employment to continue posting favorable year-on-year growth rates but with a more moderate increase.

March 30, 2022

Spain | Incomes policy agreement, imported inflation and pensions

It seems reasonable that in exceptional times, like the current one, the economic cost of the major increase in gas, oil and other commodity prices should be shared across the population as a whole — including pensioners. This would then help to reduce the risk of inflationary spirals and of future stagflation.

February 1, 2022

Global | An era of higher inflation in Europe?

The sharp upturn in global and European inflation is raising questions in the business press and the general public about a problem we had forgotten about for many years.

December 7, 2021

Spain | Where are wages headed?

Wages will attract close attention in the coming months. First, because rising inflation is placing wages under strain. Second, because there is uncertainty as to how much bargaining power employees and employers will have.