It seems that workers' salaries in our country have picked up some pace over the past year, giving us a little relief in our wallets. According to the most recent data published by the National Institute of Statistics, salaries in Spain experienced a 3,9% increase during 2024 , a considerable acceleration compared to the 2,4% recorded the previous year. This figure indicates that the upward trend is consolidating, marking three consecutive years of increases after the setbacks of the past.
What this Labor Price Index (LPI) really tells us is how the cost to companies for the same jobs varies. To put it simply, the INE (National Statistics Institute) cleans the data to remove factors like promotions or increased overtime. This way, what we see is a real increase in labor costs that affects various sectors and job profiles quite broadly, although, as is always the case, the benefits haven't been the same for everyone.
The sectors and profiles that have noticed the increase the most
Looking at who has seen the biggest salary increases, young people are leading the way. Those aged 25 to 34 have enjoyed a 5,1% salary increase , followed closely by those under 25. Interestingly, temporary workers have seen a 5,1% improvement, a figure that far exceeds the 3,7% increase achieved by those with permanent contracts. This demonstrates that the labor market is attempting to adjust lower salaries to remain competitive.
Regarding economic activity, some sectors have been particularly strong drivers of growth. Extractive industries, along with professionals in scientific and technical fields, have seen their salaries rise by over 5,5%. On the other hand, public administration and education have seen increases of barely 2%. By professional category, those in management and executive positions, as well as employees in entry-level occupations, have benefited the most from this upward adjustment of salary scales.
Territorial differences: Aragon and Madrid in the lead
Salaries and wage increases vary depending on where you live. Aragon has surprised everyone this year, becoming the region with the highest salary growth, boasting a spectacular 6,7% increase . Navarre and Madrid follow, both with a solid 4,6%, placing them above the national average. It's striking how Madrid and Catalonia continue to drive economic growth, while other areas like Asturias and Cantabria have seen much more modest figures, barely reaching 2%.
It's also worth noting that full-time workers have fared better than part-time workers. While the former saw their salaries rise by 4,1%, those with part-time hours only experienced a 1,9% increase. Regarding nationality, foreign workers saw their pay rise by 4,7%, a figure higher than the 3,8% recorded for Spanish workers , suggesting greater economic activity in sectors where this group has a larger workforce.
Despite the ongoing economic challenges, the Spanish labor market has shown remarkable resilience with this 3,9% increase. This rise in wage costs, which has been particularly beneficial for the technology and extractive industries , reflects an attempt to offset the loss of purchasing power in recent years. With all autonomous communities showing positive growth and a clear commitment to improving wages for younger workers, the 2024 figures paint a picture of widespread wage improvement. While uneven across regions and sectors, this trend signals a steady recovery for Spanish households.
