Value of Portuguese workers’ wages plummets

in Business · 14-08-2013 17:08:00 · 0 Comments

Figures released over the weekend in London have revealed that the value of Portuguese workers’ wages has been subject to one of the biggest reductions across the European Union.

A series of statistics collated by the House of Commons library showed that Portuguese, Greeks and the Dutch suffered the biggest cuts to their wages since mid-2010.
The salary reduction in Portugal was in the region of seven percent.

Spain saw a 3.3 per cent drop over the same period while Cyprus saw salaries fall by 3 per cent.
Across the EU as a whole the average fall in wages, adjusted for the European Central Bank’s harmonised index of consumer prices (HICP), was -0.7 per cent and in the eurozone area it was -0.1.
By contrast, German wages rose by 2.7 percent during this period.



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