The labor cost of Spanish companies has been chaining annual increases for 15 months, but with such uneven territorial evolution that in that period it has grown by 32% in the Balearic Islands and 25.9% in the Canary Islands for only 12.2%, less than half, in Madrid and Cantabria.
The data recently published by the National Statistics Institute reveal that this behavior has contributed to reducing the gap between the territories with the highest and lowest labor costs, which 45 months ago, In the first quarter of 2021, it was 55.3% and now, with the data at the end of September, it is 41.7%.
Apart from the extremes that represent the two archipelagos, on top, and Madrid and Cantabria, on the bottom, the general increase in total spending that employers make when hiring their staff has fluctuated in the rest of Spain by just over five percentage points above and below the average.
According to the INE, labor costs include the remuneration of employeessocial contributions at your expense, vocational training costs, other expenses and taxes related to employment.
Labor costs have increased by 19% in less than four years in Extremadura, 18.9% in La Rioja, 18.8% in Andalusia, 18.5% in Aragon, 18.4% in Galicia, 16.7% in Murcia, 16.4% in Navarra and 16.3% in the Valencian Community.
Below average (15.9%) has become more expensive by 15.8% in Castilla y León, 15.5% in Castilla-La Mancha, 15.4% in Catalonia, 14.3% in Asturias and 13.6% % in Euskadi.
Regarding the average, The increase in the Balearic Islands has been higher than that of the country as a whole by 16.1 percentage points and that of the Canary Islands at 9.9, those of Extremadura and La Rioja at 3 points, those of Andalusia, Aragon and Galicia between 2.5 and 2.9 points, and those of Murcia, Navarra and the Valencian Community less than one point percentage.
On the opposite side, in Madrid and Cantabria has been 3.7 points lower to the average, in the Basque Country 2.4, in Asturias 1.6 and in Catalonia, and the two Castiles less than one percentage point.
More than 3,000 euros
This territorial evolution, in addition to reducing the differences between the communities with the highest and lowest labor costs, has altered to some extent the classification of the autonomies, although not in the upper part, which continues to be headed by Madrid, the Basque Country, Navarra and Catalonia, the only ones above average (3,020.71 euros) and 3,000 euros.
Madrid continues to be the community with the highest labor costwith 3,536.52 euros per worker and month; followed very closely by País Vasco, with 3,532.78 euros; and at some distance from Navarra (3,263.19 euros) and Catalonia (3,203.59).
However, below, the Balearic Islands, which in the first quarter of 2021 was third to last, only ahead of Extremadura and the Canary Islands, has risen ten places by virtue of its growth of 32% until it is now fifth, with 2,974.42 euros.
Castilla y León and Castilla-La Mancha have fallen three places and they are now, respectively, thirteenth, with 2,701.41 euros, and fifteenth, with 2,667.50 euros; and Cantabria, currently eighth, has dropped two places, with 2,790.56 euros; and Murcia, eleventh, with 2,730.11 euros.
Extremadura has dropped one place and now closes the list with the lowest labor cost, 2,490.56 euros per month; the same as Asturias, sixth with 2,945.08; and the Valencian Community, ninth with 2,764.38; while Galicia has risen one place, now tenth with 2,752.57 euros; and the Canary Islands, whose significant rise makes it lose last place, rising to 2,553.91 euros.
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