The unemployment rate stood at 9.4% in September, about 165,000 people

Purchasing power continues to fall: real wages lost 1.7% in February


The Average Salary Index (IME) fell 1.2% in February, according to data presented this Thursday by the National Institute of Statistics (INE).

Year-on-year inflation (for the last twelve months) was 8.85%, while private sector wages rose just 6.3% and public sector wages 7.3%. On average, the loss is 1.2% (-1.08% for private and -1.43% for public).

  • Monthly variation: 0.25%
  • Accumulated annual variation: 4.26%
  • Variation in the last 12 months: 6.96%
  • General Index: 391.60

Employment and unemployment

On the other hand, unemployment stood at 7.3% in February 2022; a year before it was at 11% and two years before at 10.5%. The percentage of activity is 61.7% and that of employment is 57.2%.

The number of people who work is 1,799,100; the employed are 1,667,700 and the unemployed are 131,400.

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