Page 51 - economic report 2021

Wage growth accelerated but the increase AVERAGE WAGES AND INFLATION
was lower than for inf at on in 2021. Interannual variation rate (%) Chart 6.3

The data from the Workforce Survey reflect
a slightly stronger wage dynamic than shown
in the CASS data, with a 2.1% increase in the
average monthly pay of employees, to €2,174
net. According to this source, in 2021 about
24% of employees in the private sector earned
more than €2,460, a percentage that rises to
54.3% in the public and semi-public sector.
In contrast, this is reversed in the case of
the lowest wages (under €1,545), which are Inf at on Average wages
concentrated in the private sector (34.2%
of the total) more than in the public sector Source: CASS (Andorran Social Security System) / Department of Stat st cs.
(11.6%). The Survey also reflects that the
average wages of employees increase with age The nat onal minimum wage rose
to reach a maximum in the 45-54 age bracket, for the sixth consecut ve year,
whereas they tend to decrease in older ages.
to reach €1,121 per month.
In the case of the national minimum wage, a
new rise was introduced for the sixth consecutive year in 2021, of 3.5%, which easily exceeds
the average wage, as also occurred in 2019 and 2020. As a result, the minimum hourly wage rose
to €6.47 (for workers aged 15 and over), the equivalent of €1,121.47 per month for a working 49
week of 40 hours. This trend responds to the commitment for the minimum wage to be half the
average wage which, as said, is around €2,200, following the recommendations of the European
Committee on Social Rights, a goal that was first achieved in 2020. However, this amount is
slightly below the minimum wage in Spain which, after the important rise implemented from

AVERAGE WAGES BY SECTORS (euros) Table 6.1

% var. Average index
2021 21/20 in Andorra = 100
Agriculture, livestock, hunt ng and forestry 1,604.70 -0.2 72.9
Manufacturing industries (including extract on) 2,243.10 5.1 102.0
Product on and distribut on of electricity, gas and water 3,419.33 1.0 155.4
Construct on 2,222.46 5.1 101.0
Commerce and motor vehicle repairs (etc.) 1,875.89 -0.8 85.3
Hotels and catering 1,551.09 -0.9 70.5
Transport, storage and communicat ons 2,368.68 2.6 107.7
Financial system 4,759.92 1.2 216.4
Real estate & rental act vit es; business services 2,120.29 2.9 96.4
Public administrat on, defence & compulsory social security 2,665.71 0.1 121.2
Educat on 2,296.85 -0.2 104.4
Health & veterinary act vit es, social services 2,369.41 2.1 107.7 The Andorran economy: general developments | VI. Prices and costs
Other social act vit es & community services, personal services 1,764.40 -5.9 80.2
Households employing domest c staf 1,440.80 1.6 65.5
Extraterritorial bodies 2,775.43 3.0 126.2
Domest c work for the community 1,393.35 0.3 63.3
Average 2,199.92 1.8 100.0

Source: CASS (Andorran Social Security System) / Department of Stat st cs.