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  HOME | Business & Economy (Click here for more)

Portugal’s Unemployment Drops to Lowest Figure since 2004

LISBON – Portugal’s unemployment rate dropped in November to its lowest rate since 2004, according to the country’s national statistics office estimate published Monday.

Portugal’s unemployment rate, as set in provisional November figures, was 8.2 percent.

According to the data published by the national statistical office, known in English as Statistics Portugal, “the provisional estimate of the unemployment rate for November 2017 was 8.2 percent. The unemployed population estimate was of 424,200 people and its employed population totaled 4,745,100 people.”

Apart from this figure, the report entitled “A Statistical Portrait, 2017 Edition,” said it had corrected its provisional October estimate by raising the unemployment rate by one decimal point, setting the final October 2017 figure to 8.4 percent.

The office estimated that unemployment in November dropped by 14,400 people compared to the previous month figure, thereby setting Portugal’s November employment rate at 61 percent.

By gender, the November unemployment rate among women was 8.7 percent while among men the figure was of 7.9 percent, the same figure as in October.

Youth unemployment (15-24 age group) was of 23.6 percent, compared 24.6 percent in October, while among adult workers (25-74 age group) was 7 percent.

Parallel to its economic recovery, Portugal has been gradually reducing its unemployment rate from its 18 percent maximum unemployment figure in 2013.

Other factors contributing to this unemployment drop has been decreasing active population figures since 2010, massive population migration (around half a million Portuguese or 5 percent of the population) and a negative population growth rate (the resulting difference between births and deaths).

 

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