Unemployment retrieved to 8.1% in November. INE estimates a rate below 8% in December

  • ECO News
  • 30 January 2018

The unemployment rate decreased again in November, to 8.1%, according to INE. For December, provisional data point to a new decrease, to 7.8%.

The unemployment rate decreased again in November, to 8.1%, after standing at 8.4% in October. For December, Statistics Portugal (INE) estimates a new decrease, to 7.8%.

According to data published this Tuesday, the seasonally adjusted unemployment rate retrieved three decimals in November, standing at 8.1%. This means that the amount was revised downwards (a 0.1 percentage points’ decrease) in comparison to the provisional estimate that was disclosed in the beginning of the month. In order to find another 8.1% rate, one would have to go back to November of 2004.

Looking at December, INE estimates a new decrease. The year should end with a 7.8% unemployment rate, according to provisional data, subject to corrections. This is the lowest amount since July of 2004, when unemployment reached the same level.

More employed, less unemployed

The number of unemployed retrieved 3.9% in November, to 417.2 thousand. In December, it should have decreased again, to 401.5 thousand. As for the number of employed population, it grew 0.4% in November of 2017, to 4,75 million — and in December, provisional data point to another increase.

Even among the youth, numbers are more positive now. After a one decimal increase in October, to 24.5%, the youth unemployment rate decreased in November to 22.8%, which corresponds to 86.1 thousand people. In the last month of 2017, the rate should have decreased once again, to 22.1%.