Unemployment rate decreases to 10.1% in the first quarter of 2017
It's the first time since 2011 that employment had a quarter-on-quarter growth in the beginning of the year. The number of unemployed had the largest homologous decrease since the 3rd quarter of 2013.
The unemployment rate was 10.1% in the first quarter of 2017, discloses Statistics Portugal (INE). At issue is a 0.4 percentage points’ decrease in comparison to the last three months of 2016 and a 2.3 points’ decrease in comparison to the homologous period. The Finance and Economy minister anticipated a decrease in unemployment below 10% in 2017; the first quarter of the year does not yet mirror this reality, although it points to decreases.
The rate which was now disclosed corresponds to a 523.9 thousand unemployed, 18.2% less in comparison to the first three months of 2016, the largest decrease since the third quarter of 2013, the data from the INE discloses (non-seasonally adjusted). Quarterly, at issue is a 3.5% reduction, which “contrasts with the increases observed in the 1st quarters in the last two years”.
As for the number of employed, it increased to 4.66 million. The quarterly increase — of 0.3% — “unlike what has occurred in all 1st quarters of the data series started in 2011”, the INE explains. As for the homologous period, there was a 3.2% increase, the largest since the fourth quarter of 2013.
Youth unemployment also took a dive, reaching 25.1% percentage — 2.6 points less than in the previous quarter and 5.9 points less than in the homologous period.
