Average monthly pay grew by 2.9% in 2020, to an average of 1,314 euros. The rise was most significant in the fourth quarter of 2020.
Average monthly pay in Portugal increased by 2.9% in 2020 compared to 2019 to a top line of 1,314 euros, Statistics Portugal (INE) said on Thursday.
The regular component of monthly gross pay per worker rose 3.3% to 1,073 euros and basic pay 3.4% to 1,007 euros, it added.
According to INE, the changes in real terms were identical to the nominal changes.
In the fourth quarter, average monthly gross pay increased by 3.5% to 1,473 euros.
The regular component of that pay rose by 3.4% and basic pay rose by 3.5% to 1,078 euros and 1,012 euros respectively.
“Taking into account that the rate of change in the Consumer Price Index (CPI) was negative (-0.2%), the increases in average compensation in real terms were 3.7%, 3.6 and 3.7%, respectively,” it said.
These results relate to around 4.1 million jobs, corresponding to Social Security beneficiaries and Caixa Geral de Aposentações subscribers.
According to INE, in 2020, total remuneration was higher in electricity gas, steam, hot and cold water and cold air activities (3,061 euros) and financial and insurance activities (2,555 euros), having risen 0.7% and 1.8%, respectively, compared to 2019.
In turn, total remuneration was lower in agriculture, animal production, hunting, forestry and fishing activities (814 euros) and accommodation, catering and similar activities (830 euros), but rose by 1.9% and 0.7%, respectively, compared to 2019.
Concerning company size, in 2020, total remuneration ranged from 836 euros in companies in the 1 to 4 workers to 1,631 euros in companies with 250 to 499 workers.
In companies with 500 and more employees, total remuneration was somewhat lower than this (1,609 euros).
The average compensation per worker in companies in the 50-99 worker bracket (1,297 euros) was closest to the total economy (1,314 euros).
In 2020, remuneration in the private sector recorded an annual increase of 2.7% to 1,192 euros, a higher variation than that recorded, in the same year, for the General Government sector, which recorded an increase of 2.4% to 1,893 euros.