First 2013 quarter figures show that wages in Portugal are going down. This drop started two years ago and is the consequence of the application of lower wages when workers are replaced. One third of Portuguese companies froze pay in 2013 and prospects for 2014 predict wage moderation, with increases below 1-1.5 percent. Salaried work is paid increasingly less. Meanwhile, whereas unemployment is slightly backing down, new workers are recruited under the low-wage policy. (Ref. 130540)
Wages down. The Mercer cabinet carried out a survey among 300 Portuguese companies (56 percent were multinationals, 43 percent national and 1 percent public) that found that 31 percent of businesses froze their employees’ pay in 2013. the trend of lower income partly comes from the fact that employees are replaced by workers with cheaper “precarious” contracts. The biggest drops are for managing executives (-4.94 percent) and trade executives (-1.48 percent).
Unemployment and pay are...
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