Average monthly gross wages per employee (per job) rose 5.9% to 1,438 euros in the third quarter of the year compared with the same period in 2022, the National Institute of Statistics (INE) said. However, taking inflation into account, this growth is only 2.4%.
INE said in a statement that the regular portion and the basic portion of this remuneration increased by 6.2% and 6.6%, to €1,216 and €1,145 respectively.
But in real terms, using changes in the consumer price index as a basis, average total monthly gross wages increased by 2.4%, with regular and basic components rising by 2.6% and 3.0%.
This is the fifth month in a row that real wage growth has been recorded since November 2021.
These results cover 4.7 million jobs, corresponding to social security beneficiaries and Caixa Geral de Aposentações subscribers, an increase of 3.8% compared to the same period in 2022.
Compared to September 2022, average monthly gross wages increased across all dimensions of the analysis (economic activity, company size, institutional sector, technological intensity and knowledge intensity).
The greatest growth was observed in the “Extractive industries”, in companies with the number of employees from 1 to 4 (7.1%), in the private sector (6.3%) and in companies “Knowledge-intensive market services” (9.0%).