Minimum wages in Spain increased to EUR 1,050 per month in 2019 from EUR 858.55 per month in 2018. Eurostat provides national minimum wages at monthly rates, meaning that, when the minimum wage is paid for more than 12 months per year, data is adjusted to take these payments into account. For instance, for Spain, where it is paid for 14 months a year, the minimum wage is calculated as follows: (EUR 900 x 14) / 12 = EUR 1,050. This was the largest increase in the minimum wages since 1977. Minimum Wages in Spain averaged 677.02 EUR/Month from 1999 until 2019, reaching an all time high of 1050 EUR/Month in the second quarter of 2019 and a record low of 485.71 EUR/Month in the fourth quarter of 1999.
Minimum Wages in Spain is expected to be 1050.00 EUR/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Spain to stand at 1150.00 in 12 months time. In the long-term, the Spain Gross Minimum Monthly Wage is projected to trend around 1210.00 EUR/Month in 2020, according to our econometric models.