13-08-2024 - In the second quarter of 2024, the average gross monthly earnings per worker increased by 6.1% year-on-year to 1,589 euros

In the second quarter of 2024

Average gross monthly earnings per worker increased by 6.1% year-on-year to 1,589 euros

In the second quarter of 2024, the average total gross monthly earnings per worker (per job position) increased by 6.1% compared to the same period in 2023, reaching 1,589 euros. Both regular earnings and base earnings recorded increases of 6.4% and 6.7%, amounting to 1,258 and 1,212 euros, respectively. In real terms, taking into account the change in the Consumer Price Index (CPI) of the Region, the total average earnings per worker increased by 2.6%, regular earnings grew by 2.8% and base earnings per worker rose by 3.1%.

These results encompass 105.4 thousand job positions (102.2 in the second quarter of 2023) corresponding to beneficiaries of Social Security and subscribers of the Caixa Geral de Aposentações of entities headquartered in the Autonomous Region of Madeira (ARM).

In year-on-year terms, significant increases in total earnings were observed in "Mining and quarrying" (section B; +17.7%), in "Other service activities" (section S; +16.2%), in the public sector (+8.1%), in enterprises with 5 to 9 employees and 50 o 99 employees (+9.8% in both groups), in enterprises providing "Sector of mainly non-tradable non-market goods and services " (+7.9%), in enterprises in the "Services industry with High-technology" (+9.6%).

In June 2024, the average total gross monthly earnings per worker in the Region (1,589 euros) was 51 euros lower than the national average (1,640 euros).

Nationally, in year-on-year increase in total gross monthly earnings was a 6.4% increase, with regular gross earnings growing by 6.6% and the average gross monthly earnings increasing by 6.4%. In real terms, average total gross earnings increased by 3.6% at the national level.

Similarly to the Region, at the national level, "Electricity, gas, steam, hot and cold water, and air conditioning" (section D) was the activity that presented the highest total gross earnings in June 2024 (3,501 euros in the ARM and 3,588 euros in the Country). At the national level and regional, enterprises with 500 or more employees had the highest total earnings, 2,044 and 2,023 euros, respectively. In the ARM, the average monthly earnings per worker in the private sector (5.6%) registered lower year-on-year changes than those in the Public Administration sector (8.1%). At a national level, these changes were closer, with the private and public sectors, presenting, in the same value, year-on-year changes of 6.6%.