The Portuguese average income increased to €887 by the end of June this year, which accounted for the highest salary increase since the first trimester of 2011.
Salaries hadn’t increased this much since 2011. The Portuguese average income increased to €887 by the end of June this year, which accounted for the highest salary increase since the first trimester of 2011.
The net average income in Portugal increased to €887 during the second trimester of 2018. This significant wage growth was accompanied by a fall in the unemployment rate, that has reached 6,7% during the second trimester of the current year. This is the lowest rate registered since 2004.
Many other indicators have followed up n the improvement trend that has been registered recently. The number of people unemployed went down by 23,7% when compared to the same period last year. Youth unemployment has fallen as well to its lowest record since 2009, while the share of “undervalued” population was down by 13% and the number of people employed increased by 2,4%.
Average net income peaked at €887
This amount represents a €11 increase (1,26%) in relation to the last trimester. The average income increased €36 (4,23%) in comparison to last year’s results. This is the highest increase registered since the first trimester of 2011 (during this period, the monthly average income had gone up by 5%, reaching the €816.
Regardless of the increase, the Portuguese incomes are still well beneath the European average. According to Eurostat, Luxembourg was the country that, in 2016, registered the highest wages, with an average yearly net income of €38.000, triple the Portuguese average of €12.691.
Portugal has the 11th lowest salary in the European Union.
Lisbon shows higher incomes
Lisbon centre and its surrounding area were yet at the top, as in the metropolitan area the average was the highest in the country, reaching €1.025.
The Azores recorded the lowest average in the country, with a monthly average salary of €792, having even fallen by 0,2% in comparison to last year’s results.
In terms of types of work, the utilities sector is heading the ranking (€918), while agriculture, fishing, hunting and so on, represented the lowest average wage, of €662.