According to data released by the Eurostat, Portugal is the second Euro Zone country with the lowest average cost of labor. Between 2008 and 2013, costs per hour worked decreased 5.1% to a current value of 11,60 euros/hour, while in the Euro area is 28.4 euros.Analyzed by sector in this area, the labor costs in the Portuguese Industry are lower compared to the average: 10.1 euros/hour (less than a third of the European average: 30.8 euros/hour). For the Business sector, the cost is 11.5 euros/hour; while in the Construction is 10.6 euros/hour and in the sector of Services is 12.6 euros/hour.One of the reasons that spurred this decline stems from the insistence of the Portuguese government and economists to lower labor costs, in order to promote the competitiveness of the Portuguese economy and increasing exports.
Support recruitment
Value Added Partners provides a comprehensive service to companies who want to bet on Portugal. Therefore, offers assistance in the selection, recruitment and training of HR structure and legal support in negotiating and arranging. For more information, contact us: www.value.pt | value@value.pt
[photo credit: Manuel Bahamondez H]
