Unemployment rate in Portugal decreased again in November

  • ECO News
  • 30 January 2017

There were 537.7 thousand unemployed last November, a 1.3% decrease compared to the previous month. The Portuguese unemployment rate has decreased to its lowest percentage since 2009.

The final unemployment rate of November 2016 plummeted to 10.5%, in comparison with the 10.6% registered in October. The result is in line with the forecats made by the Statistics Portugal (INE) and represent the lowest unemployment rate since April 2009.

Overall, there were 537.7 thousand unemployed in November 2016, 1.3% less than in the previous month. There was a slight increase in the employed population to 4.581 million people.

The best improvement was registered among young population. Last November, the youth unemployment rate was 27.2%, a five percentage points’ decrease when compared to October. All in all, there were 99 thousand young unemployed in November, 700 less than in October.

In December, according to the provisional estimate disclosed by INE this Monday, the unemployment rate should decrease once again, this time to 10.2%. INE‘s forecast for that month is that the unemployed population will be of 519.5 thousand and there should be 4.587 million employed.

If these percentages for December 2016 are to be confirmed, the unemployment rate will have decreased two percentage points when compared to the last month of the year 2015 and the number of unemployed people will register an homologous plunge of 16.5%.