The Adecco Monitor of Employment Opportunities and Satisfaction reveals that the nominal average salary in Spain has reached an all-time high, amounting to 1,920 euros per month in 2023, representing a growth of 5.4% over the previous year. This figure marks the highest figure in the consultancy's historical series, evidencing a continuous trend of wage recovery that has been maintained for 11 consecutive quarters in all autonomous communities.

The analysis, conducted by Adecco Group Institute, uses four-quarter moving averages to avoid distortions and highlights that all autonomous regions have experienced a salary increase in nominal terms. Madrid tops the list with an average salary of 2,282 euros per month, reflecting a year-on-year increase of 6.7%, followed by the Basque Country with 2,197 euros per month (+4.6%), Navarre with 2,093 euros per month (+6.2%), and Catalonia with 2,056 euros per month (+5.2%).

These four communities have not only experienced year-on-year wage growth, but have also outperformed their previous years' increases.

In contrast, Extremadura remains in the last position with an average salary of 1,533 euros per month and the lowest year-on-year increase of 3.1%, being the only region with a salary of less than 1,600 euros per month.

However, the study reveals that the average salary in Spain has lost purchasing power for the second consecutive year, registering a decrease of 2.6% in 2023. Although in the second half of 2023 a slight increase in purchasing power is observed, with 0.2% and 1.5% when comparing the third and fourth quarters respectively with the same period in 2022.

In real terms, the purchasing power of the current average wage is 8.8% lower than the historical peak of 2009 and remains below that of 2000.

Finally, the report highlights that the variations in the purchasing power of the average salary mean that, after a year, the average wage-earner has 610 euros less in his or her pocket. The Balearic and Canary Islands are the only communities that experience improvements, while the Basque Country, Asturias and Galicia lead the annual losses, exceeding 1,000 euros in cuts. In this context, the economic impact on the daily lives of Spaniards becomes evident, underlining the importance of understanding wage dynamics in the current scenario.

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