Spain, Unions Agree to Increase Minimum Wage
- Business groups say increase threatens economic recovery
- Agreement marks victory for coalition’s minority partner
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The Spanish government has agreed to hike the minimum wage for the second time in less than two years, bowing to demands from its junior partner and unions despite resistance from business groups.
Spain’s Labor Ministry, controlled by leftist party Unidas Podemos, agreed with unions to raise the wage by 15 euros per month, or about 1.6%, according to a statement from the ministry late Thursday. The increase is applicable as of Sept. 1. The administration aims to increase it further, to as much as 1,049 euros ($1,236) per month by 2023.