Portugal’s unemployment rate reaches record 14.8 percent in January

2 March 2012

Portugal’s unemployment rate in January has been estimated at 14.8 percent by Eurostat, the European Union’s statistics body, which is the highest level since records began, Eurostat said Thursday in Luxembourg.

According to Eurostat, the estimated rate for January represents a rise against the 14.6 percent posted in December and 14.0 percent in November, which means a rise of 0.8 percentage points on the unemployment rate in just two months.

Portugal thus has the third-highest unemployment rate in the Euro Zone, behind 23.3 percent in Spain and 19.9 percent in Greece in November, and alongside Ireland, which also has an unemployment rate of 14.8 percent.

The figure issued Thursday by Eurostat is a new record for Portugal, which began recording unemployment in 1983 through the National Statistics Institute and in 1953 through the Bank of Portugal. (macauhub)