SPANIARDS under the age of 30 are earning less than a decade ago, despite being better trained and prepared for the workplace, according to the Annual Salary Structure Report.
The average salary among teenagers has dropped by 28 per cent in 10 years, while earnings among 20 to 24 year-old slipped 15 per cent, and by 9 per cent for those aged 25 to 29.
This is in spite of the fact that those born in the 1990s have grown up in fear of the ‘crisis’ and are studying more, believing extra skills will help them face the future.
The report highlights two issues in particular.
The first is the ‘precarious’ nature of today’s working conditions which is littered with temporary or part-time contracts and positions which pay by the hour rather than weekly or monthly.
The second is the fact there are fewer younger people. The Spanish Statistics Institute (INE) registered 4.8 million Spaniards between the ages of 20 and 29 at the start of this year, 30 per cent less than the 6.7 million recorded in 2005.