The Labor Price Index (IPT) published by the INE places Madrid, along with Navarra, as the second autonomous community with the highest salary increase of the year. This rise, which expands by 1.5 points compared to 2023, is only surpassed by Aragón, which led the increase with 6.7%.
Nationally, the 3.9% advance in 2024 marks the third consecutive year of salary increases, following the rises in previous years. The IPT measures the variation in labor cost paid by employers, adjusting for factors such as hours worked and contract type.
The analysis by profiles shows that salaries grew for both women (+3.8%) and men (+3.9%). Temporary workers experienced an increase of 5.1%, higher than the 3.7% for permanent employees. Full-time employees saw their salaries grow by 4.1%, compared to 1.9% for part-time workers.
By age groups, the largest salary increases corresponded to workers aged 25 to 34 (+5.1%) and those under 25 (+5%). The most moderate increases were observed in the 55 and over bracket (+2.8%) and the 45 to 54 group (+3.7%). Foreign workers registered a salary increase of 4.7%, higher than the 3.8% for Spanish nationals.
Regarding economic activities, extractive industries (+5.8%), professional, scientific, and technical activities (+5.6%), and information and communications (+5.5%) led the increases. Conversely, Public Administration (+2%), education (+2.1%), and hospitality (+2.7%) recorded the lowest increases. Occupations such as directors and managers, along with elementary occupations, also showed significant rises.
Territorially, the most moderate salary increases were recorded in Asturias (+1.8%), Cantabria (+2%), Castilla y León (+2.3%), and Andalucía (+2.7%).
