Wages in Portugal decreased 7.50 percent in July of 2020 over the same month in the previous year.

Wage Growth in Portugal averaged 0.02 percent from 2006 until 2020, reaching an all time high of 8.50 percent in November of 2018 and a record low of -12.80 percent in May of 2020. This page provides - Portugal Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Wage Growth in Services - values, historical data and charts - was last updated on October of 2020.

Wage Growth in Portugal is expected to be -6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Portugal to stand at 0.50 in 12 months time. In the long-term, the Portugal Wage Growth in Services is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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Portugal Wage Growth in Services

Actual Previous Highest Lowest Dates Unit Frequency
-7.50 -9.00 8.50 -12.80 2006 - 2020 percent Monthly
NSA

Portugal Labour Last Previous Highest Lowest Unit
Unemployment Rate 5.60 6.70 17.50 3.70 percent [+]
Employed Persons 4761.80 4737.40 5007.40 4215.20 Thousand [+]
Unemployed Persons 396.50 406.80 927.70 174.60 Thousand [+]
Part Time Employment 456.10 485.10 678.90 456.10 Thousand [+]
Full Time Employment 4275.10 4380.80 4516.50 3725.70 Thousand [+]
Employment Rate 53.20 54.70 59.20 48.80 percent [+]
Labor Force Participation Rate 56.30 58.60 62.50 56.30 percent [+]
Long Term Unemployment Rate 1.70 2.50 9.40 1.40 percent [+]
Youth Unemployment Rate 26.30 27.40 41.40 11.10 percent [+]
Labour Costs 118.10 99.20 118.10 62.10 points [+]
Job Vacancies 11806.00 6971.00 17645.00 1083.00 [+]
Wages 1188.06 1170.63 1188.06 809.34 EUR/Month [+]
Wages in Manufacturing 122.76 135.47 149.34 85.00 points [+]
Wage Growth -7.50 -9.00 8.50 -12.80 percent [+]
Minimum Wages 740.83 740.83 740.83 356.72 EUR/Month [+]
Population 10.28 10.29 10.57 8.62 Million [+]
Retirement Age Women 66.42 66.42 66.42 65.00 [+]
Retirement Age Men 66.42 66.42 66.42 65.00 [+]
Unemployment Change 2029.00 637.00 48562.00 -31613.00 [+]
Productivity 113.00 104.20 113.00 77.80 points [+]
Employment Change -3.40 -0.50 1.30 -3.40 percent [+]


Portugal Wage Growth in Services
In Portugal, wage growth in the service sector refers to the annual change of the index of gross wages and salaries in services. The service sector contributes to 77 percent of gross value added and employs about 68 percent of the population.