Real wages fall in half of OECD countries but rise in Portugal
Real wages fell in about half of OECD countries in 2023, with Portugal being in the group of nations where they rose, with seven countries registering a drop of more than 2%.
© Lusa
Economia OCDE
According to the report 'Taxing Wages 2024' by the Organisation for Economic Co-operation and Development (OECD), in nominal terms, the average salary increased in 37 countries that are part of the organisation, compared to 2022, but in real terms it fell in 18.
In Portugal, according to the OECD data, the average salary increased by 7.4%, but the real income grew by 1.8%, taking into account an inflation of 5.5%.
The organisation also indicated that the drop in real salaries was over 2% in seven countries: Estonia, Iceland, Czech Republic, Hungary, Mexico, Sweden and Colombia.
"Effective tax rates on labour income rose across the OECD in 2023, while inflation remained above historical levels", indicated the OECD.
The organisation highlighted that, "with tax systems in many OECD countries not fully adjusting for inflation, the average tax burden for the eight household types covered in this report increased in most countries between 2022 and 2023, driven in most cases by higher income taxes", it can be read in the document.
Therefore, "for the second consecutive year, post-tax incomes at the average wage fell in most OECD countries", it indicated.
Read Also: Inflation in the OECD remains at 5.7% in February (Portuguese version)
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