Unemployment in Portugal falls to 9.4% in May
In May, there were 485,000 unemployed in Portugal, which represents a 9.4% unemployment rate -- lower than the previous month's rate. Unemployment in OECD stands at 5.9%.
Unemployment in countries from the Organisation for Economic Co-operation and Development (OECD) continued standing at 5.9% in May; Portugal comes in fifth place on the list of countries with the largest unemployment rate. According to data disclosed this Tuesday by OECD, its 35 members had a total of 36.8 million unemployed in May, 4.1 million more than before the crisis effects in April 2008.
Out of the total of unemployed in OECD, 485 thousand concern Portugal, the country in which the unemployment rate was 9.5% in April and 9.4% in May. In April, Greece was the OECD country with the largest unemployment rate (21.7%), followed by Spain (17.7%), Italy (11.3%) and France (9.6%).
In the Euro Area, unemployment continued standing at 9.3% in May. Youth unemployment (which concerns the unemployed between 15 and 24 years old) decreased in the OECD average in May to 12%, in comparison to the 12.1% registered in April. In Portugal, however, the youth unemployment rate increased from the 23.8% registered in April to 24.6% in May, while in the Euro Area, it continues standing at 18.9%.
