According to The Adecco Group Institute’s 9th Adecco Salary Monitor, in 2022, the Canary Islands had the second-lowest average salary in Spain, with 1,568 euros per month, only surpassed by Extremadura. However, the Canary Islands experienced a notable increase of 10.8% compared to 2021, which was the highest increase among all Spanish autonomous communities, equivalent to a gain of 1,829 euros per year.
Despite a 7.5% increase in consumer prices in the Canary Islands in 2022 compared to the previous year, the archipelago managed to increase its purchasing power by 3% due to the higher wage growth of 10.8%. This resulted in an additional 510 euros per year, in contrast to the overall loss of purchasing power in Spain (-4%).
The study also revealed that in 2022, the average wage increased in the three main sectors of the Canary Islands: Services (+11.5%), Construction (+6.6%), and Industry (+5.6%). However, wages in these sectors remained lower than the national average.
THE LOWEST SALARIES IN SPAIN ARE IN EXTREMADURA, FOLLOWED BY THE CANARY ISLANDS
Nationally, despite the increase in wages, the average salary in Spain lost 4% of its purchasing power in 2022 due to the rise in consumer prices. The report indicates that the salary increase in Spain for the last year was 4%, reaching 1,822 euros. However, when considering the variation in consumer prices, the average salary experienced a loss of purchasing power. Compared to 2008, the Spanish wage has lost 7% of its purchasing power, accumulating a decline of 2.5% over the last five years.
In terms of sectors, the study found that in the three main economic activities in Spain—industry, construction, and services—the average wage experienced a loss of purchasing power. The construction sector was the most affected, with a 5% reduction in the average wage, followed by industry with a 4.6% reduction, and services with a 3.8% reduction.
When comparing wages between full-time and part-time contracts in 2022, the average full-time worker earned €2,095 per month, while a part-time employee earned €863 per month. Over the last five years, the purchasing power of the average full-time wage decreased by 4.3%, while part-time wages increased by 2.4%.
Regarding the wage gap between large and small companies, there was a gap of approximately 578 euros per month or 6,939 euros per year in 2022, representing a 37% difference in percentage terms. However, the pay gap between small and large companies has narrowed compared to previous years.
From 2017 to 2022, all autonomous communities in Spain experienced a loss of purchasing power. Castilla-La Mancha and Cantabria were the most affected regions, while Extremadura, Comunidad de Madrid, and the Canary Islands had relatively smaller decreases in purchasing power.
In summary, the Canary Islands had the second-lowest average salary in Spain in 2022, but it experienced a significant increase. Overall, wages in Spain lost purchasing power due to the increase in consumer prices. Construction was the sector most affected, while services experienced the highest wage growth. Wage discrepancies were observed between large and small firms, as well as between full-time and part-time contracts. Additionally, all regions in Spain experienced a loss of purchasing power over the past five years.
