• Markets.The Government tries to calm investors' doubts about the rise of the SMI and the end of the labor reform

"Social Security affiliation in groups with greater coverage of the minimum interprofessional minimum wage (SMI) would have increased between one and four tenths more in 2019 than in the absence of the increase in SMI." Or more clearly: that the rise of the SMI reduced membership by "up to 45,000 inhabitants . "

This is what BBVA Research estimates, which today has presented its Spain Report document for the first half of this year, and which makes it clear that the rise of the SMI to 900 euros agreed by Pedro Sánchez and Pablo Iglesias did have a negative impact on the labor market

And, moreover, as explained by the director of the study service of the entity, Jorge Sicilia, " the effects will continue to be noticed " in the coming years. "It is evidence that we are going to have to continue valuing," he stressed.

In this way, BBVA Research disputes the argument of the Socialist Government, which states that the rise of the SMI has not had any impact on employment, and remains in the same position that the Bank of Spain defends. The Independent Authority of Fiscal Responsibility (AIReF) , on the other hand, said at first that the increase in the minimum wage would have a negative effect but later, its then president, José Luis Escrivá, substantially changed his speech and approached the that maintains what is today her boss, Nadia Calviño.

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Before these certainties and warnings, the team led by Sicily, and which is also part of the prominent economist Rafael Doménech, warns the next Government that before decreeing a new rise of the SMI as he intended, and also to repeal the reform At work, analyze the possible consequences of these measures.

"While waiting for the new Government to introduce changes in such important areas as the labor market or pensions and before advancing in a reversal of the reforms implemented in previous years, it would be convenient to review the different evaluations that have been made on the effects that the measures introduced have had and maintain those aspects that have been positively assessed , "explains the report. "This spirit of public policy evaluation should be extended to all areas. In this regard, a detailed analysis of the costs and benefits of the recent changes in the housing sector or of the increases in the Minimum Interprofessional Salary should guide the future performances, "he adds.

According to the criteria of The Trust Project

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  • Pablo Iglesias
  • Pedro Sanchez
  • Social Security
  • minimum salary

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