In the ever-evolving economic context, recently Minimum Interprofessional Wage (SMI) increase In Spain, this represents a significant change for the world of work. The purpose of this increase, as explained by the Minister of Labor, is to increase the purchasing power of workers and reduce wage inequality. Yolanda Diaz in a recent appearance.
HE Increase in Interprofessional Minimum Wage It has a direct impact on millions of workers, especially in sectors with traditionally low wages. It is estimated that this increase will not only improve the living standards of employees but also stimulate the economy through increased consumption. However, it is also important to consider the impact on small and medium-sized businesses that may face difficulties in adjusting their cost structures.
Thus, an agreement was reached between the Ministry of Labor and Social Economy and the trade union organizations CCOO and UGT. Increase the Minimum Interprofessional Wage by 5% by 2024. This figure represents an increase 54 euros more per month in 14 paymentsThat is, a total of 756 euros per year. Since 2018, SMI has increased by 54% with today’s increase, meaning employees receive €5,573 more per year. Hourly domestic workers will receive at least 8.87 euros per hour.
According to the Ministry, this increase in SMI It will benefit more than 2.5 million peopleOne third of them will be women and young people.
The increase in SMI has caused a variety of reactions. While unions and labor groups have celebrated this as progress towards greater pay equity, some business sectors have expressed concerns about its possible effects on employment and competitiveness. This debate reflects the challenge of balancing economic growth with social protection.
How does the increase in SMI affect unemployment benefits?
As we saw in the last video From labor lawyer Ignacio Solsona’s YouTube channel ‘Laboroteca’ The increase in the Interprofessional Minimum Wage, which currently has more than 125,000 subscribers, affects many issues. Solsona reminds us that SMI also serves as an indicator for many other Social Security benefits, benefits, or benefits. And list the following:
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to determine elusive borders
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Maximum amounts paid by FOGASA
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Limit of income that can be earned from self-employment making a retiree compatible with retirement
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Income limit that a pension recipient can receive subsidy for unemployment
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It also serves as an indicator. other pensions such as orphanhood or in favor of other relatives
So we wonder how the increase in SMI affects the subsidy for people over 52 years of age. Recipients of unemployment benefits, as determined by SEPE They cannot have income or income greater than 75% of the current Interprofessional Minimum Wage (SMI)..
Solsona reminds that there is a limit of 810 euros gross per month throughout 2023, because the pro rata part of the extra payments is not included. But after the 5% increase in SMI, the limit for subsidy beneficiaries for this 2024 is: Monthly gross 850.5 euros.
In other words, those who benefit from or want to apply for the assistance offered by SEPE over the age of 52 need to know that they cannot have a monthly gross income or income of more than 850.5 euros. This could be a significant change for many unemployed people over 52 who are eligible to receive this assistance.
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.