MADRID, April 13 (UPI) -- The average salary in Spain remains one of the lowest in the European Union, officials said.
At the low end of the EU pay range alongside Greece, Portugal and Poland, Spain's average salary is $31,900 per year compared with $50,600 across all 27 EU member states, Think Spain reported.
Despite these statistics, the average salary increase in 2010 stood at 2.8 percent in Spain, while the European Union average was 1.9 percent.
The Spanish labor market has seen a larger reduction in the number of jobs available than in the past, 40 percent lower than in 2007.
The market is characterized rigid official rules and ranks as the second-most demanding European country after Latvia.
Officials say there is a low demand for talent, reduced turnover of managers and an increase in recruitment of Spanish executives by foreign companies.