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HomeLatest NewsThe salary in large companies rises to 4.4% and employment 3.5%

The salary in large companies rises to 4.4% and employment 3.5%

Date: June 10, 2023 Time: 14:32:25

Total sales of large companies operating in Spain, deflated and corrected for seasonal and calendar variations, grew by 1.8% year-on-year in November 2022, while employment increased by 3.5% and wages increased 4.4%, according to the statistics ‘Sales, employment and salaries in large companies’ published by the Tax Agency.

The 1.8% increase in sales in November was 2.6 points lower than the rate registered in October. The data continues the trend of gradual moderation that has been registered in recent months, a reflection of the progressive closure of the base effects that were derived from the final phase of the pandemic during the year 2021.

Specifically, domestic sales increased by 1.2% in November, with a slowdown in the rate of growth equal to that of total sales. Breaking down by destination, the behavior was heterogeneous, since while consumer sales significantly moderated their advance to 1.6%, capital sales picked up to reach 9.5%.

Within the latter, the dynamism of construction sales stands out, which returned to positive territory and rose 2.3% after spending nine months in negative terms. For their part, sales of capital goods and software maintained the intense growth of recent months (+13%).

On the other hand, exports moderated again in November, up to 3.7%. The slowdown can be seen both in sales to third countries, which grew by 11.8%, and to the EU (+5.8%), although the latter, so far this quarter, seem to resist Better this phase of Greater containment.


Regarding the number of recipients of work income, a fiscal indicator of salaried employment, the figure slowed its growth rate in November, although less than in the two previous months. Specifically, it increased by 3.5%, four tenths below the rate registered in October.

For its part, the average gross yield picked up again (4.4%), exceeding by three tenths that observed in October. In the year as a whole the increase is 3.7%.

As explained by the Tax Agency in its report, the greatest rise in average income in 2022, well above previous records (similar increases were only found before 2008), was mainly a consequence of the salary gains that are being applied in these companies in response to the price increases that have been manifesting since mid-2021.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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