Effective from today, the regional minimum wage in Madeira has increased to €980, marking a significant rise from the previous €915.
Today marks a significant financial milestone for residents of Madeira, as the regional minimum wage has officially increased to €980. This represents a substantial rise of €65 from the previous amount of €915, which translates to an increment of just over 7%.
This increase aligns with the broader national trend, as the minimum wage across Portugal also sees an uplift from €870 to €920. The national adjustment was part of a tripartite agreement concluded during social consultation meetings in October 2024, reflecting a 5.7% increase.
These wage adjustments, now in effect, were formally documented in the Diário da República earlier this week. The regional increase is particularly noteworthy for Madeira, given its unique economic landscape and reliance on both tourism and agricultural sectors.
The decision to raise the minimum wage in Madeira is expected to have a positive impact on the local economy, boosting consumer spending and improving living standards for many residents. It also underscores the region's commitment to aligning with national economic policies while addressing local needs.
Sources
Madeira Guide
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