Spain Cabinet Approves Royal Decree to Increase Interprofessional Minimum Wage Rates for 2026

The Spanish Council of Ministers Feb. 17 approved a royal decree to increase the interprofessional minimum wage (SMI) rates for 2026. The decree includes measures to increase to: 1) 1,221 euros (US$1,436.69), from 1,184 euros (US$1,393.15), the tax-exempt monthly SMI amount paid in 14 installments, which represents an annual increase of 518 euro (US$609.50), to 17,094 euros (US$20,113.66) per year; 2) 57.82 euros (US$68.03), from 56.08 euros (US$65.99), the daily SMI rate for fixed‑term contracts lasting less than 120 days; and 3) 9.55 euros (US$11.24) per hour, from 9.26 euros (US$10.90), the SMI rate for domestic workers. The new rates ...