Labor costs rise by 5.4% in Q2

The Labor Cost Index in Portugal recorded a 5.4% increase in the second quarter of 2023, according to data released today by the National Institute of Statistics (INE). This index measures costs per hour worked and represents an acceleration compared to the 5.3% increase noted in the previous quarter.

The growth in labor costs is considered a relevant indicator for analyzing the economic situation. Detailed information from this index points to a continued rise in costs associated with the workforce in Portugal. INE reported that these data reflect trends across various sectors of the economy.