Portugal: working force surpasses European average

  • ECO News
  • 6 April 2017

The cost of the Portuguese work force is, nonetheless, the sixth lowest in the Euro Area.

The hourly cost of the work force in Portugal increased 2.5% in 2016 in comparison to the previous year, surpassing the European Union’s average (1.6%); nonetheless, it is the sixth lowest of the Euro Zone, according to data disclosed by Eurostat.

According to Eurostat, the EU’s official statistics office, in 2016, the hourly cost of the work force in economic activities (excluding agriculture and public administration) was an average of 25.4 euros in all 28 member-States; yet, there were many discrepancies, between 4.4 euros in Bulgaria and 42 euros in Denmark.

Portugal, having an average labor cost of 13.70 euros (in comparison to 13.40 euros in 2015, which represents a 2.5% growth, larger than any average in the EU or Euro Area – 1.4%), is in 19th place among the 28 member States, with the sixth lowest value among countries in the Euro area, only surpassing Malta, Estonia, Slovakia, Latvia and Lithuania).