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Portugal
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Portugal
Portugal, holding the 48th position in global GDP rankings with $287 billion, showcases a thriving economy. Key industries include textiles, tourism, and technology. The stable working population aligns with the world average, while a 6.5% unemployment rate suggests a relatively healthy labor market. Portugal has a modest recruitment agency presence, given its industry diversity.
Portugal'S
AGENCY LANDSCAPE
780
Agencies operating in Portugal
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
15-20%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Portugal'S
FEATURED AGENCIES
Keylime Consultants
IKONS Ibérica
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Portugal'S
GROSS DOMESTIC PRODUCT (GDP) RATING
48
WORLD RANKED
Portugal ranks 48th in the world by current economic output
$287B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
27
EMEA RANKED
Portugal is the 27th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Portugal's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Portugal'S
CURRENCY AND CODE
€
Country currency
PRT
Country ISO code
Portugal'S
INFLATION RATE
2.2%
CURRENT RATE
▼3.1% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Portugal'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Portugal'S
LABOUR STATISTICS
10M
POPULATION
With a population of 10,343,066, Portugal is a medium sized country by global standards. Portugal's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Portugal is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Portugal's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Portugal'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Portugal'S
UNEMPLOYMENT RATE
6.5%
CURRENT PERCENTAGE
▲0.48% INCREASE
Portugal has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a small increase in unemployment, suggesting continued economic stability, with a slight dip in job availability
Portugal'S
TOP PERFORMING INDUSTRIES
Top industries
Tourism
Automobiles and auto parts
Financial services
Portugal'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
64
/
55
Male | Female
In Portugal there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Portugal'S
WORKING LIFE
$21K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$1.8K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Portugal'S
WORKING LIFE
13DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours are 8 per day, 40 per week, Monday to Friday. Overtime, capped at 2 hours daily, is paid at 125% for the first hour, 137.5% for subsequent hours, and 150% on weekends/holidays.
Portugal'S
TOP BENEFITS
120DAYS
Maternity leave
Maternity: Up to 150 days paid (80-100% salary), 30 pre-birth; possible 90-day extension at 25% pay. Paternity: 20 days paid leave, 5 optional. Parental: 120 days, distributable; paid 80-100% salary.
1095DAYS
Sick leave
In Portugal, employees with 6 months of social security contributions can take up to 1095 days of sick leave. The first 3 days are unpaid. Payments start at 55% of the salary from day 4 and can increase to 75% after one year.
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