This represents an average annual increase of €95.59, from €1,262.59 in May 2022 to €1,358.18 in the same month of this year, according to the statistical summary of Social Security (SS).

“In May 2023, the total wages declared per dependent worker had an average value of 1,358.18 euros, with the monthly variation having increased by 0.2% and, in year-on-year terms, the growth was 6.3 %. The accumulated wage variation in the first five months of the year was 7.8%, corresponding to 5.0% more employment for dependent work in the same period”, reads the document.

According to Dinheiro Vivo, which is based on SS data, the average annual increase of 6.3% in wages exceeds by 2.3 percentage points (p.p.) the variation of the price index, of 4%, calculated for that month, which translates into an average real gain for workers.