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Spain’s Q2 Labour Costs Rise 3% to €3,256, Extending 18-Quarter Climb

Non-wage charges, led by Social Security contributions, are increasing faster than salaries.

Overview

  • On a seasonally and calendar-adjusted basis, labour costs rose 3.3% year on year and 0.7% from Q1, marking the first second quarter above €3,200 in the series.
  • Wages increased 2.7% to an average €2,416.5 per worker per month, while other costs rose 4% to €840.0, with mandatory Social Security contributions up 3.8% to €775.27.
  • Job vacancies eased to 149,739, down by 3,146 from the previous quarter and 1,640 from a year earlier, with 91.4% of firms reporting no need to hire more workers.
  • By sector, the sharpest increases were in extractive industries (+6.7% to €4,864.61) and energy supply (+6.3% to €7,702.57), while costs fell in arts and recreation (-4.0%) and in public administration (-0.8%).
  • Regionally, La Rioja, Andalucía and Cantabria posted the largest increases, while Asturias, Murcia and Castilla-La Mancha saw the smallest, with Castilla-La Mancha up 1.2% to €2,890.2 as wages rose 1.0% and non-wage costs 2.0%.