The minimum wage will rise to 1,286 euros in 2027, 5.3% more

MadridWith the legislature at its limit and the November 29th polls on the horizon, the Ministry of Labor has decided to bring the increase of the minimum wage (SMI) to 1,286 euros per month, 5.3% more. The proposal was published this Wednesday past eleven at night in a public hearing, and unions and employers' associations could make contributions until this coming November 16th. But the Labor ministry's move already anticipates that this will be the figure that will be approved shortly by the Council of Ministers.

The department headed by the Vice President Yolanda Díaz has proposed an increase higher than what the committee of experts at the social dialogue table recommended. Its proposal was that the SMI be increased by 4.9%, to 1,281 gross euros in 14 payments. It is currently 1,221 euros, a figure that the employers' association rejected, as it has done every year since 2020.

The expert commission recommends the government raise the SMI by 4.9%, to 1,281 euros