The CAV and Navarra, among the communities with the highest salaries, but also with the greatest decrease in purchasing power

The CAV and Navarra, among the communities with the highest salaries, but also with the greatest decrease in purchasing power

The CAV and Navarra, among the communities with the highest salaries, but also with the greatest decrease in purchasing power

According to data corresponding to the fourth quarter of 2022 collected by the Adecco Group, the CAV and Navarra are, after Madrid, the communities with the highest average salaries: 2,103 and 1,969 euros, respectively. However, inflation has had a greater impact on their purchasing power, especially in Navarra.

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After bottoming out in the 2020 confinement —there was the biggest drop since the time of the Civil War due to the effect of the ERTEs— the average salary continues to grow in hegoalde, and new all-time highs have already been reached. In fact, both the Basque Autonomous Community (CAV) and Navarra are two of the three communities with higher salaries throughout the Spanish State, according to the latest report “Opportunities and Satisfaction in Employment” carried out by the Adecco Group. However, the impact of inflation has also hit both communities harder, especially the Foral Community, where there is an evident loss of purchasing power.

Analyzing the data for the fourth quarter of 2022, Madrid continues to lead with an average salary of 2,135 euros gross, although closely followed by the CAV, with an average of 2,103 euros. Navarra is third, with an average salary of 1,969 euros. However, it should be noted that the higher magnification has been registered in the Foral Communitywith an increase of 4.5% compared to last year, almost double that of the BAC (a rise of 2.5%) and even surpassing Catalonia.

However, these salary increases have not had the same reflection in the purchasing power of the citizenry due to inflation. The average wage has lost purchasing power, especially in Navarre —where it has fallen the most in the entire Spanish State—, since since 2020, it has fallen by 4.6%. Translated into euros, the Navarrese population now has 1,132 euros less per year.

In Euskadi, the impact of the rise in prices on purchasing power has been less, at 3.3%, although it is among the four communities with the greatest decreases. The Basques therefore have 853 euros less than in 2021 to spend.

Loss of purchasing power.

Loss of purchasing power. Chart: EITB Average

If we look longer, the loss is even more pronounced. The purchasing power of the average state wage is now slightly lower than it was in nineteen ninety six. Furthermore, it is 10.1% lower than the highest purchasing power of the historical series, which continues to be that of 2009.

In the case of the Basque Country, the difference between the current purchasing power and the maximum (which was reached in September 2010) is a loss of one 11.9%.

Source: Eitb

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