Author: ANGEL MANSO
This represents the ninth largest decline in OECD countries
The The wages of Spaniards recorded a drop of 5.3% in 2022 realistically, that is, by taking into account the negative impact of inflation in purchasing power, which means ninth largest decline among 38 countries Organization for Economic Cooperation and Development (OECD).
On this way, think tank grouping of prominent advanced economies in its annual report Payroll taxation yes, although the average wage increased in nominal terms in all OECD countries between 2021 and 2022. “reduced in real terms in 35 out of 38 countries.”
Taking into account the negative impact of inflation on wages, the biggest real decline was recorded in Estonia (-10%), Turkey (-8.8%), the Netherlands (-8.3%), Greece (-7.4%), the Czech Republic Republic (-7%), Mexico (-6.8%), Lithuania (-6.3%), Latvia (-6.2%) and Spain (-5.3%).
At the opposite extreme, among all OECD countries, only Hungary (+2.6%), Colombia (+1.5%) and Switzerland (+0.1%) recorded a real increase in average wages.
Source: La Vozde Galicia
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
