In the first quarter of 2023

Gross average monthly remuneration per worker increased by 7.8% on a year-on-year basis to 1,289 euros

The Regional Directorate of Statistics of Madeira (DREM) releases today provisional values for the first quarter of 2023 regarding the average monthly remuneration per worker for entities with fiscal headquarters in the Autonomous Region of Madeira (ARM).

During the first quarter of 2023, the gross total monthly average remuneration per worker increased by 7.8% compared to the same period in 2022, reaching 1,289 euros. Regular and base remuneration also rose by 7.3% and 7.5%, respectively, to 1,178 and 1,132 euros. However, in real terms, i.e., after accounting for inflation during this period, measured by the change in the Consumer Price Index for the Region, the average total, base, and regular remunerations per worker decreased by 0.5%, 1.0%, and 0.8%, respectively.

It is important to note that these results encompass 99.5 thousand jobs, representing beneficiaries of Social Security and subscribers of the General Retirement Fund, which shows an increase of 5.4% compared to the same period of the previous year.

In terms of year-on-year comparisons, significant increases in total remuneration were observed in "Artistic, Entertainment, Sports and Recreational Activities" (section R; +14.6%), in companies with 250 to 499 workers (+10.3%) and 1 to 4 workers (+10.2%), in the private sector (+9.1%), in "Medium Technology Manufacturing Industry" companies (+21.9%), and in "Market Services with Strong Knowledge Intensity" companies (+13.5%).

As previously mentioned, the gross total monthly average remuneration per worker in the Region during the first quarter of 2023 was 1,289 euros, which is 66 euros lower than the national average (1,355 euros). The nominal year-on-year change in the country was +7.4%, and in real terms, it was -0.6%.

Similar to the Region, in the national context, "Electricity, Gas, Steam, Hot and Cold Water and Air Conditioning" (section-K) had the highest gross total remuneration (3,219 euros in the ARM and 3,064 euros in the country). In the ARM, companies with 250 to 499 workers registered the highest value in this indicator (1,648 euros), while at the national level, it was the category of companies with 500 or more (1,591 euros). In both geographical units, the monthly average gross total remuneration per worker in the private sector showed higher year-on-year changes compared to the Public Administration sector, with +9.1% and +7.7% in the ARM, and +8.3% and +5.4% in the country respectively, indicating a real increase in the private sector and a real loss in the Public Administration sector.

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