“Salaries in Portugal today are also at the highest levels that have ever been paid”, stated Mário Centeno, at the presentation of the October Economic Bulletin, at the Money Museum, in Lisbon.

The head of the Portuguese central bank highlighted that similar to what is happening in Europe and the largest economies in the world, the job market in Portugal has been resilient.

“Employment in Portugal is at the highest levels recorded in the country,” he said.

According to Mário Centeno, real wages as a whole managed to recover despite the inflationary process.

The Bank of Portugal predicts, in the Economic Bulletin, that the market will continue to present a favourable situation, despite the near stabilisation of employment and expects “an increase in real wages”.

The central bank projects an unemployment rate of 6.5% this year, 7.1% in 2024 and 7.3% in 2025.