Unemployment stands at 6.8% for the third consecutive month, lowest level since 2002
The unemployment rate stood at 6.8% in August, according to the provisional data released by INE. If this value is confirmed, this will have been the third consecutive month with this record.
The unemployment rate is estimated to have stayed at the same level as the previous month, at 6.8%, according to the provisional data released this Friday by the Office for National Statistics (INE). This trend occurs one month after the unemployment rate had stabilized on 6.8% in comparison to June, which was the minimum recorded since 2002.
The signs of progress in the job market are now a bit shyer. The Government predicted that the unemployment rate would close this year on 7.6%, last April. In about three months, the government will present a macroeconomic framework with predictions for the economy and the job market, with the Portuguese central bank, the BdP, expecting unemployment to hit the 7.2% bar.
“In August 2018, the provisional estimates for unemployment stood at 6.8%, therefore showing no changes in comparison to the previous month and having lowered in 0.3% in comparison to May 2018 and o.2% in comparison to August 2017”, INE shows.
INE will only report the official estimates next month, as the provisional records for August will become final; that same date, they will release the data regarding the month of September.