Spain Hikes Minimum Wage 8% as Business Groups Walk Away
- Industry unhappy with mounting burden of increasing costs
- Raise may boost standing of Labor Minister Yolanda Diaz
Euro banknotes in a check out area inside a supermarket.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Spain will raise its minimum wage by an inflation-busting 8% after the government and unions struck a deal, brushing aside calls from business groups to refrain from increases at a time of economic uncertainty.
Prime Minister Pedro Sanchez, who faces a battle for reelection this year, has faced fierce opposition on the issue from industry lobby groups, which had walked away from talks in recent days.