The total gross monthly earnings per employee (per job) increased by 5.7%, to €1,670, in the quarter ended in December 2023 (4th quarter of the year), compared to the same period of 2022. The regular and the base components of those earnings increased by 6.0% and 6.3%, reaching €1,220 and €1,148, respectively. In real terms, considering the Consumer Price Index change, the total gross monthly earnings increased by 4.0%, its regular component increased by 4.2% and the base monthly earnings increased by 4.5%. These results cover 4.7 million jobs, corresponding to Social Security beneficiaries and to Caixa Geral de Aposentações subscribers, an increase of 3.5% from the same period of 2022.

Compared to December 2022, the total gross monthly earnings increased in all dimensions of analysis (economic activity, enterprise size, institutional sector, use of technology and knowledge intensity). The largest increases were observed in the “Mining and quarrying” activities (section B; 10.0%), in enterprises of 1 to 4 employees (6.5%), in the private sector (6.3%), and in enterprises in “Knowledge-intensive market services” (9.5%).

In 2023, the gross monthly earnings per employee increased, compared to 2022, to €1,505 (6.6%), the regular component increased to €1,216 (6.6%), and the base monthly earnings to €1,143 (6.8%). In real terms, the rate of change increased by 2.3%, 2.2% and 2.4%, respectively.