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MNI: Spanish Unions, Business See Renewed Talks On Wages Pact

(MNI) Rome
Madrid (MNI)

Spanish unions and business are both keen to avoid a rise in industrial disputes as wages are outpaced by inflation at 8.3% in April.

Stalled talks between Spanish unions and businesses for a pact to limit wage growth could resume after the summer when inflation is likely to ease, officials from major unions and a leading business group told MNI, noting that new wage awards are currently running at a higher level than would have been stipulated in an earlier proposed deal.

An agreement based on providing annual salary rises of about 3.5% until 2024 came close to being settled earlier this year, before the Spanish Confederation of Businesses (CEOE) rejected union proposals to include a variable component linked to inflation. But all parties, with encouragement from the government and the Bank of Spain, are keen to return to the negotiating table.

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Stalled talks between Spanish unions and businesses for a pact to limit wage growth could resume after the summer when inflation is likely to ease, officials from major unions and a leading business group told MNI, noting that new wage awards are currently running at a higher level than would have been stipulated in an earlier proposed deal.

An agreement based on providing annual salary rises of about 3.5% until 2024 came close to being settled earlier this year, before the Spanish Confederation of Businesses (CEOE) rejected union proposals to include a variable component linked to inflation. But all parties, with encouragement from the government and the Bank of Spain, are keen to return to the negotiating table.

Keep reading...Show less