OECD projects unemployment of 15.4 pct in Portugal this year

11 July 2012

Portugal’s unemployment rate is this year expected to reach 15.4 percent and increase to 16.2 percent in 2013, according to estimates from the Organization for Economic Cooperation and Development (OECD) published in Paris Monday.

At the beginning of July, Finance Minister Jorge Gaspar announced a rise in the government’s estimates for unemployment in Portugal, to 15.5 percent this year and 16 percent in 2013, as compared to estimates of 14.5 percent for 2012 and 14.1 percent for 2013 included in the Budget Strategy Document sent to Brussels.

In the OECD report only Spain and Greece are expected to have higher unemployment than Portugal – in Spain’s case of 24.5 percent this year and 25.3 percent next year, and in Greece’s case of 21.2 percent in 2012 and 21.6 percent in 2013. (macauhub)