Public Sector Salary Talks Conclude With 7.5% 2024 Increase

No time to read?
Get a summary

The public sector payroll discussion centers on a planned 7.5% salary increase for 2024, marking a notable milestone in the ongoing negotiations between the government and major labor unions. The agreement, reached on a recent afternoon, shows that the largest participating confederations, CCOO and UGT, have come to a consensus, while CSIF has chosen to abstain from the pact. The deal ties wage growth to the Ministry of Finance and Public Administration, and introduces a wage cap that, according to critics, may erode the purchasing power of civil servants and other public workers by delivering outcomes that lag behind inflation in the current year and the next. In exchange, the plan promises above-average raises over the following two years, with the aim of mitigating some of the real-wage losses over the medium term. Final wording and formal approval are expected to be completed as the general negotiating table for public administrations meets later in the day.

No time to read?
Get a summary
Previous Article

RFEF Announces King’s Cup Rights Deal and Revenue Projections

Next Article

Rising Online Demand for Car Parts in Russia and Resulting Price Pressures