Spanish incomes reach pre-recession levels nine years after beginning of financial crisis

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AVERAGE earnings in Spain stood at €11,412 a year in 2017, the first time in nine years the figure has been higher than pre-crisis levels according to a new study.

The National Institute of Statistics (INE) found average earnings increased by 3.1 per cent from 2016 to 2017.

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It was the first time earnings were above 2008’s average of €11,318. That year saw the global financial crisis break out which plunged Spain, Europe and much of the world into recession.

The INE found household incomes averaged at €28,417 in 2017. That figure is still below the more than €30,000 average recorded in 2009.

About 10.4 per cent of households said they faced financial difficulty towards the end of the month in 2018, up 1.1 per cent year-on-year.


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