The increase in the Minimum Interprofessional Wage is already fully included in the political agenda after Yolanda Díaz, Minister of Labor, made clear her intention to increase this index in the context of skyrocketing inflation and always with the objective of reaching 60%. of the average salary.
Although the increase in the Minimum Interprofessional Wage seems to be a political decision (and to a large extent it is), the truth is that the law grants a mandate to the ruling political class at all times, since it obliges the different governments to update this index reference.
Given the importance of this issue, the Workers’ Statute dedicates an entire article to the Minimum Interprofessional Wage. In its article 27 (it can be consulted), the regulation explains that the Government must establish annually, and “prior consultation with the most representative trade union organizations and business associations”, this SMI.
Thus, the Government has to enter into conversations with employers and unions with a view to raising the SMI, although in case of disagreements it can increase the minimum wage unilaterally or only with the ‘yes’ of a part of the social agents. This is what has happened in the last two increases in the SMI for 2021 and 2022, which were rejected by the employer.
We are moving towards 2023 in a similar scenario. The scenario of the highest increase in the SMI drawn by the experts of the committee designed by the Government spoke of 1,049 euros per month, an increase of 4.9% compared to the current 1,000 euros per month. But the economic situation of Spanish households is far from similar when these forecasts were made.
Therefore, it will be necessary to attend in great detail to how this SMI will be set for 2023. The Workers’ Statute also provides the keys on this point, since its article 27 includes the factors that must be taken into account in order to to the next update of the Minimum Interprofessional Wage:
-The consumer price index, the CPI, with which the inflation registered in our country is measured. And here is the most delicate part, since at the moment inflation is out of control with 10.8% that threatens to leave a rise to a lesser extent as very insufficient for Spanish households.
-The average national productivity achieved, measured by the National Institute of Statistics (INE).
-The increase in labor participation in national income.
-The general economic situation. This point appears closely related to that of the CPI, given that the economic situation is one of fear of a recession and a loss of purchasing power on the part of citizens due to inflation and the clearly lower growth rate of wages.
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