In the 2^nd quarter of 2023,

Average gross monthly earnings per employee increased by 6.7% year-on-year to 1,496 euros

The Regional Directorate of Statistics of Madeira (DREM) releases today provisional data for the 2^nd quarter of 2023 regarding the average monthly earnings per employee per job position for entities with tax residence in the Autonomous Region of Madeira (ARM).

In the 2^nd quarter of 2023, the overall average gross monthly earnings per employee increased by 6.7% compared to the same period in 2022, reaching 1,496 euros. Regular earnings and base earnings also rose by 6.7% and 7.0%, respectively, reaching 1,185 and 1,139 euros. In real terms, that is, after adjusting for inflation during this period as measured by the change in the Consumer Price Index of the Region, the overall and base average earnings per employee increased by 1.8%, and the average regular earnings went up by 2.1%.

These results encompass 101.9 thousand job positions benefiting from Social Security and subscribers to the General Retirement Fund, representing a 4.0% increase compared to the same period of the previous year.

In year-on-year terms, notable increases in total earnings are observed in the "Administrative and Support Service Activities" section (+14.1%), in enterprises engaged in "Knowledge-intensive market services" (+10.8%), in "Medium-high technology manufacturing industries" (+10.2%), in enterprises with 250 to 499 employees (+9.4%), with 1 to 4 employees (+9.0%), and in the public sector (+8.0%).

In the 2^nd quarter of 2023, the average gross total monthly earnings per employee in the Region was 1,496 euros, lower than that of the Country (1,539 euros) by 43 euros, but narrowing the gap recorded in the previous quarter (71 euros). The year-on-year change, in nominal terms, for the Country was 6.7% (1,442 euros in June 2022) and 2.4% in real terms.

As in the Region, at the national level, the "Electricity, gas, steam, hot and cold water, and air conditioning" (section D) was the activity with the highest overall gross earnings (3,332 euros in the ARM and 3,539 euros in the country). In the ARM, unlike the previous quarter, the average gross total monthly earnings per employee in the private sector exhibited a year-on-year change lower than that of the Public Administrations sector, namely, 7.3% and 8.0%, respectively.

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