According to data released by the OECD, Portugal recorded the largest increase in real per capita household income in the second quarter of 2024 (2.1%), "driven mainly by employee remuneration".

As the organisation highlights, "between the fourth quarter of 2021 and the second quarter of 2024, workers' remuneration in Portugal grew 23% in real terms, surpassing those of the G7 economies."

Among G7 countries, the biggest increases were recorded in the UK and Italy (1.1% and 1% respectively), while US household income rose by 0.4% and in France by 0.3%. On the other hand, in Canada and Germany, real family income fell 0.2% in the second quarter.

The Netherlands recorded the largest contraction (-2.3%) in real household income per capita, "mainly due to a fall in property income that coincided with an increase in income and wealth taxes, although real GDP per capita has increased (0.9%)", explains the OECD.