Portugal Unit Labour Costs  Forecast


Labour Costs in Portugal is expected to be 102.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Portugal to stand at 93.68 in 12 months time. In the long-term, the Portugal Unit Labour Costs is projected to trend around 103.20 Index Points in 2020, according to our econometric models.


Portugal Unit Labour Costs
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Portugal Labour Last Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 8.8 8.9 9.5 9.1 8.2 7.5
Employed Persons 4723 4740 4780 4820 4692 4990
Unemployed Persons 453 479 472 466 419 445
Part Time Employment 555 586 589 594 571 610
Full Time Employment 4206 4230 4270 4310 4250 4440
Employment Rate 53.8 52.9 53 53.1 53.94 54
Labor Force Participation Rate 59 58.2 58.1 58 58.99 57.8
Long Term Unemployment Rate 5.3 5.8 5.7 5.6 4.15 5.2
Youth Unemployment Rate 24.6 23 22.8 22.6 24.72 21.7
Labour Costs 100 102 93.4 98.8 93.68 103
Job Vacancies 10444 10110 16200 16150 10880 10412
Wages 1130 1190 1190 1220 1035 1410
Wage Growth 5.5 2.4 2.3 2.3 1.6 2.7
Wages in Manufacturing 114 123 98.2 105 101 125
Minimum Wages 650 650 670 670 677 700
Population 10.31 10.31 10.27 10.27 10.27 10.21
Retirement Age Women 66.25 66.25 66.33 66.33 66.11 66.5
Retirement Age Men 66.25 66.25 66.33 66.33 66.11 66.5
Living Wage Family 765 850 890 890 723 1205
Living Wage Individual 626 690 750 750 590 910
Productivity 102 103 99.6 104 111 104
Wages Low Skilled 663 690 690 695 606 790
Wages High Skilled 1310 1480 1480 1540 1266 1750
Unemployment Change 1960 -3900 -16600 -24400 92.46 -3200
Employment Change 0.7 0.4 0.3 0.5 0.44 0.5