In the first quarter of 2024

Average gross monthly earnings per worker increased by 6.6% year-on-year, to 1,375 euros

The Regional Directorate of Statistics of Madeira (DREM) released the provisional values for the first quarter of 2024 regarding the average monthly earnings per worker of entities headquartered in the Autonomous Region of Madeira.

In the first quarter of 2024, the average total gross monthly earnings per worker (per job) increased by 6.6% compared to the same period in 2023, reaching 1,375 euros. Both regular earnings and base earnings saw increases of 6.4% and 6.7%, reaching values of 1,254 and 1,209 euros, respectively. In real terms, that is, taking into account the change of the Consumer Price Index (CPI) of the Region, it is observed that the average total earnings per worker increased by 3.7%, regular earnings grew by 3.6%, and the base earnings per worker rose by 3.9%.

These results include 102.6 thousand job positions (99.7 thousand a year earlier), corresponding to beneficiaries of Social Security and subscribers to the Caixa Geral de Aposentações of entities headquartered in the Autonomous Region of Madeira (ARM).

In year-on-year terms, the most significant increases in total remuneration were observed in "Other service activities" (section S; +13.6%), "Human health and social work activities" (section Q; +11.8%), the public sector (+9.3%), companies with 500 or more workers (+8.6%), companies in "Other knowledge-intensive services" (+8.6%), and "Low technology manufacturing industry" (+8.2%).

In March 2024, the average total gross monthly earnings per worker in the Region was 68 euros lower than the national average (1,443 euros). In year-on-year terms, regarding total gross earnings, the country recorded an increase of 6.1%, a change lower than that observed in the ARM (6.6%). Regarding regular gross earnings, at the national level, a year-on-year increase of 6.1% was recorded (1,285 euros), a change below that observed in the Region, of 6.4% (1,254 euros). In terms of average gross monthly earnings, the ARM equalled the national average, which was 1,209 euros, with year-on-year changes of 6.7% for the Region and 6.3% in Portugal.

Similar to the Region, nationally, the "Electricity, gas, steam, hot and cold water, and air conditioning supply" (section D) was the activity that presented the highest total gross earnings in March 2024 (3,279 euros in the ARM and 3,237 euros in the country). Nationally, companies with 500 or more workers presented the highest total gross earnings, 1,716 euros, while in the ARM, the highest value in this indicator was in the 250 to 499 workers range, with 1,774 euros. In the ARM, the average total gross monthly earnings per worker in the private sector (5.5%) recorded a lower year-on-year change than that of the Public Administration sector (9.3%). Nationally, these changes were closer, with the private and public sectors presenting year-on-year changes of 6.2% and 6.3%, respectively.

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