On Monday, the UGT trade union and the employers’ organizations CEOE and SEPMI ratified the Employment and Collective Negotiation Agreement, the organizations announced on their websites.
The other major union federation, the Workers’ Committees (CCO), is expected to ratify the agreement on Tuesday.
The agreement provides for a salary increase of 4 percent in 2023, followed by two consecutive increases of 3 percent in 2024 and 2025. An additional increase of 1 percent is planned if inflation returns again to very high levels, UGT said in its statement.
The inflation rate reached 4.1 percent in April over one year, after reaching record levels of more than 10 percent during the summer.
But this framework agreement will not lead to an automatic and general increase in wages in the country, but will serve as a basis for collective bargaining in various sectors.
In its statement, UGT said the agreement represented “a starting point to allow for a more equitable sharing of wealth”.
The left-wing government welcomed this agreement.
Once an agreement in principle was announced on Friday, Communist Labor Minister Yolanda Diaz thanked “the social partners for this very important agreement aimed at protecting wages”.
In turn, Prime Minister Pedro Sanchez said that “there is more social peace in Spain than in most European Union countries because there is a social dialogue that the government has restored” since the left’s return to power in 2018.
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