Portugal Unit Labour Costs - Forecast

Labour Costs in Portugal is expected to be 93.40 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 102.40 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 Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 8.1 8.4 7.9 7.7 8 7
Employed Persons 4749 4780 4820 4850 4890 4990
Unemployed Persons 409 405 402 400 398 392
Part Time Employment 532 520 540 550 560 600
Full Time Employment 4273 4320 4340 4360 4380 4510
Employment Rate 54.3 54.5 54.6 54.7 54.8 55.1
Labor Force Participation Rate 59 59.5 59.6 59.7 59.8 60.1
Long Term Unemployment Rate 4.2 4 4 3.8 3.8 3.2
Youth Unemployment Rate 22.1 21.8 21.6 21.4 21.2 19.9
Labour Costs 95.4 93.4 98.8 95.22 102 103
Job Vacancies 13298 16200 14150 12100 10185 10412
Wages 1145 1190 1220 1240 1250 1410
Wage Growth 5.4 4.5 4.1 3.8 2.5 2.7
Wages in Manufacturing 140 102 111 99.5 125 132
Minimum Wages 677 677 677 677 677 720
Population 10.31 10.27 10.27 10.27 10.27 10.21
Retirement Age Women 66.33 66.33 66.33 66.33 66.33 66.5
Retirement Age Men 66.33 66.33 66.33 66.33 66.33 66.5
Unemployment Change -854 -16600 -24400 -7500 -3700 -3200
Wages Low Skilled 615 650 650 650 650 750
Wages High Skilled 1360 1450 1450 1450 1450 1650
Productivity 110 99.6 104 110 103 104
Living Wage Family 870 890 890 890 890 1205
Living Wage Individual 595 650 650 650 650 850
Employment Change 0.6 0.3 0.5 0.6 0.7 0.5