February’s unemployment rate stood at 6.4%. No flash estimate for March

The National Institute of Statistics (INE) did not release this Wednesday the flash estimate of the unemployment rate for March. The coronavirus pandemic is hampering the process of gathering information, so the note published this morning only contains data on unemployment recorded in February. In relation to that month, the unemployment rate stood at 6.4%, 0.1 percentage points (p.p.) less than previously projected by INE.

“Despite the circumstances, Statistics Portugal will try to maintain the statistical production and release calendar, although some adjustments might occur associated with the impact of the pandemic in obtaining primary information, an example being the impossibility to proceed with the usual release of the provisional estimates of the quarter centred in March 2020,” explains INE, in the document released this Wednesday.

In relation to February, the unemployment rate stood at 6.4%, 0.4 p.p. less than in January and 0.1 p.p. less than in February 2019. The INE also points out that the unemployed population was “estimated at 331.6 thousand people, having decreased 5.8% (20.4 thousand) in relation to January 2020″ and 1.4% (4.6 thousand) in relation to the same period in the previous year.

In March, it is expected that this trajectory of employment improvement will be reversed with the impact of the coronavirus pandemic. The Institute for Employment and Professional Training (IEFP) recorded a leap of 9% of registered unemployed, and the Ministry of Labor’s Office of Strategy and Planning shows that this number continues to grow. Currently, the IEFP already has over 370 thousand registered in mainland Portugal, a figure that compares with the 321 thousand registered in March.