Registered unemployment fell to the ‘lowest value ever’ in June

  • ECO News
  • 20 July 2022

In June there were 282,453 people registered at job centres, a drop of more than 25% year-on-year (YoY) and the "lowest valuer ever," according to the Portuguese government.

The number of unemployed people registered at job centres fell by all comparisons in June, falling by over 25% compared to the same month last year, to 282,453, IEFP monthly statistics show. According to the Ministry of Labour, “it is the lowest value ever.”

According to the IEFP, “at the end of June 2022, 282,453 unemployed individuals were registered at the Employment Services of the Continent and the Autonomous Regions, a number that represents 61.4% of a total of 459,742 job applications”. The figure represents a year-on-year drop of 25.3% and a drop of 4.7% compared to last May.

In a statement, the Ministry of Labour praises that, “in June, unemployment reached the lowest value ever.” “Unemployment registered by the IEFP, in June, was down in all comparisons, both in chain and year-on-year terms, as well as compared to the last month of May pre-pandemic,” it added.

With the summer season beginning, the Algarve was the region that registered the biggest drop in registered unemployment, a drop of around 18.7%, according to the IEFP. The largest contribution to the reduction in unemployment was the sector of accommodation, restaurants and similar, which saw registered unemployment drop 40.5% compared to June 2021.

In the same statement, the Government also highlights the drop of 32.2% YoY in youth unemployment in June: “Youth unemployment (people under 25 years of age) registers a further fall of 6.3% in June (-1,882 young people) and a decrease of -32.2% (-13,188 young people) compared to the same period in the previous year.”