In the 4th quarter of 2022
Gross monthly earnings per employee increased, year-on-year, by 4.2%, to 1,515 euros, with the annual average growing by 3.1% to 1,319 euros
The Regional Directorate of Statistics of Madeira (DREM) releases the provisional data for the 4th quarter of 2022 and for the year 2022, regarding the average monthly earnings per employee of enterprises with tax residence in the Autonomous Region of Madeira (ARM).
In the 4th quarter of 2022, the gross monthly earnings per employee (per job) increased by 4.2% compared to the same period in 2021 standing at 1,515 euros. Regular earnings (which does not include e.g. overtime, holiday and Christmas bonuses) and base earnings (which excludes e.g. food allowance, seniority earnings or bonuses) rose by 4.1% and by 4.0% to 1,124 euros and 1,076 euros, respectively. In real terms, i.e., subtracting inflation during this period, as measured by the change in the Consumer Price Index of the Region, the average total, regular and base earnings per employee decreased by 3.9%, 4.0% and 4.1%, respectively. These results comprised 100.1 thousand jobs corresponding to Social Security beneficiaries and subscribers of the Caixa Geral de Aposentações.
Compared to the previous year, the largest increases in total earnings were registered in "Agriculture, forestry and fishing" (+13.6%), in enterprises with 1 to 4 employees (+6.9%), in the private sector (+5.8%) and in enterprises of "Medium-technology manufacturing industries" (+22.0%). The smallest changes in total earnings were recorded in “Financial and insurance activities” (-7.1%), in enterprises with 500 employees and over (+1.4%), in the government sector (+4.4%) and in “Financial and insurance activities of Knowledge Intensity Services” (-7.1%).
In the 4th quarter of 2022, the gross monthly earnings per employee in the country was 1,575 euros, with the change compared to the previous year standing at 4.2% in nominal terms and at -5.2% in real terms.
As in the Region, in the country, the sector with the highest total gross wages was "Electricity, gas, steam and air conditioning supply". When broken down by employee group, enterprises with 250 to 499 employees registered the highest values both in the Autonomous Region of Madeira and at a national level. In the two geographical units, the total gross monthly earnings per employee in the private sector were higher than in the general government sector, by 5.8% and 4.4% in the Autonomous Region of Madeira and by 5.4% and 2.0% in Portugal, by the same order.
As for 2022, the provisional data show that gross monthly earnings per employee increased by 3.1%, to 1,349 euros. The regular component grew by 2.6% to 1,113 euros, while the base earnings rose by 2.5% to 1,066 euros. The real changes were -3.9%, -4.3% and -4.5%, respectively.
The gross monthly earnings per employee were 1,411 euros, in 2022, at the national level, with an increase in nominal terms (+3.6%) and a decrease in real terms (-4.0%), compared to the previous year.
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