Unemployment in Portugal reaches record high of 17.7 pct in 1st quarter

10 May 2013

Portugal’s rate of unemployment at the end of the first quarter of 2013 reached a new record of 17.7 percent, having risen by 2.8 percentage points against the year-on-year quarter, the Portuguese National Statistics Institute (INE) said Thursday in Lisbon.

Against the end of 2012, the rate of unemployment in the first quarter of the year rose 0.8 percentage points.

According to INE’s criteria, which excludes people that, despite not being employed and saying they area available to work, told INE that they have not looked for work in the last 30 days, at the end of the quarter 952,900 people were unemployed.

The figures published by INE confirmed the trend for a continued rise in unemployment this year, which the government ahs recognised, as in its Budget Strategy Document includes an unemployment rate of 18.2 percent for 2013, rising to 18.5 percent in 2014. (macauhub)