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Spain’s new economic situation: Working more for less

Recently, Spain has seen a recovery in its economy. With more job opportunities arising, the potential for the country to grow is looking positive.   However, for many, it still hasn’t reached the same point as before

Recently, Spain has seen a recovery in its economy. With more job opportunities arising, the potential for the country to grow is looking positive.

 

However, for many, it still hasn’t reached the same point as before the crisis began in 2008. Back then, a salary of 1,000 euros a month was a norm, but now many are struggling to receive just 800 euros a month.

 

Many more jobs are up for grabs now since the crisis began, but a high percentage of those jobs are only part-time. This means many are working two part-time jobs, instead of one full-time job.

 

Although they may be working more hours this way, they are still receiving a lower income, and a lot of workers are now earning 800 euros a month or less a month.

 

Four out of 10 workers earn under 1,297.20 euros a month in Spain, according to the National Statistics Institute in 2015. Around 13{3a719d634d359a1cfd2efb58d4bd0fc099b357eb0ceee3c98bbc31468036a862} were receiving minimum wage of 648.60 euros a month, or less if the work was part-time.

 

The creation of new employment in Spain has been highly welcomed by many, although there are now fewer employees reaching the average wage than before, and more working for a low salary.

 

However, registered unemployed fell by 98,317 people in June 2017, and there were 87,692 contributing to the social security.

 

Another improvement for the Spanish economy is growth of the average gross salary, which rose by 1.1{3a719d634d359a1cfd2efb58d4bd0fc099b357eb0ceee3c98bbc31468036a862}, although that was mostly from workers over 40-years-old. Those under 24 saw their earnings fall 5.1{3a719d634d359a1cfd2efb58d4bd0fc099b357eb0ceee3c98bbc31468036a862}. 24 to 29-year-olds saw a 1.6{3a719d634d359a1cfd2efb58d4bd0fc099b357eb0ceee3c98bbc31468036a862} fall and 30 to 34-year-olds also saw a 3{3a719d634d359a1cfd2efb58d4bd0fc099b357eb0ceee3c98bbc31468036a862} fall.

 

Like many other European countries, young workers are still finding it hard to secure those permanent, full-time, degree-related jobs. Although many companies are now offering internships for those now hoping to get their foot into the door of their dream job, they are often unpaid.

 

However, Spaniards are finally seeing hope, and with further creation of jobs, they are now aiming to reach the same standards as other booming European countries.

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