In the third quarter of 2023

Average gross monthly earnings per worker increased by 5.7% year-on-year to 1,349 euros

According to data provided by Statistics Portugal(INE) to the Regional Statistics Directorate of Madeira (DREM), in the third quarter of 2023, the average gross monthly earnings per worker (per job position) increased by 5.7% compared to the same period in 2022, reaching 1,349 euros. Both regular earnings and base earnings also saw increases of 5.7% and 6.1%, reaching values of 1,183 and 1,137 euros, respectively. In real terms, adjusting for inflation during this period measured by the change of the Consumer Price Index for the Region, it is observed that overall and base average earnings per worker increased by 2.1%, while base earnings per worker rose by 2.5%.

It is noteworthy that these results encompass 102.8 thousand job positions benefiting from Social Security and subscribers of the General Retirement Fund from entities based in the Autonomous Region of Madeira (ARM), representing an increase of 3.4% compared to the same period in the previous year.

Year-on-year, the highest increases in total earnings were observed in "Administrative and support service activities" (section N; +10.1%), in enterprises with 250 to 499 employees (+11.5%), in enterprises in the "Low industrial technology manufacturing industry" (+8.9%), in enterprises in "Market services with strong knowledge intensity" and "Services with low knowledge intensity" (both with +8.2%), and in the public sector (+7.1%).

In the third quarter of 2023, the average gross total monthly earnings per worker in the Region was 1,349 euros, which is 89 euros below the national average of 1,438 euros. The year-on-year nominal change in the country was 5.9% (1,357 euros in September 2022), and in real terms, it was 2.4%.

Similar to the Region, at the national level, "Electricity, gas, steam, hot and cold water, and air conditioning" (section-D) was the activity with the highest average gross total earnings in September 2023, reaching 3,481 euros in the ARM and 2,904 euros nationwide. In the ARM, enterprises in the 250 to 499 employee range had the highest value in this indicator, at 1,720 euros, and at the national level, it was 1,678 euros. The average gross total monthly earnings per worker in the private sector showed lower year-on-year changes compared to the Public Administration sector, at 5.4% and 7.1%, respectively, while at the national level, the private sector presented a higher year-on-year change than the public sector, at 6.3% and 5.5%, respectively.

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