Average wage figures released: Public sector workers aged 55 and over are the best-paid
Monday, December 16, 2013 @ 10:20 AM
SEVEN in 10 residents in Spain earn less than 2,095 euros a month before tax and two-thirds of the under-25s take home a gross monthly salary of less than 1,216 euros, according to the National Institute of Statistics (INE). Only 4.9 per cent of those aged 25 and under earned 2,095 euros a month or more.
To work out these figures, the INE took details of all of Spain's employed workers – just over 14.3 million – and listed them in descending order of salary before dividing them into 10 groups of equal numbers. This gave the INE the upper and lower quartile figures for income in Spain and enabled them to work out a median average wage for 2012 to reflect more accurately what people actually earn. It came out at 1,571 euros a month before tax, 268 euros lower than the mean average of 1,869 euros which was skewed by those few in the upper quartile earning several times that of the majority.
Despite the financial crisis, the average gross monthly wage has not stopped growing and is now 17.7 per cent higher than in 2006, when it was 1,334.40 euros a month. According to figures, 35.7 per cent of full-time employees earned more than 2,095 euros a month last year, and 18 earned less than 1,216 euros a month, and the distribution of the highest and lowest earners has remained stable for the last three years. Yet 91.5 per cent of part-time employees – who account for just under 15 per cent of the total – earned less than a gross 1,216 euros a month, and less than one per cent earned 2,095 euros or more monthly.
Read more at thinkSPAIN.com