Portuguese Jobless Rate Rises to 12.2% in Q4

Portuguese unemployment rate increased to 12.2 percent in the last quarter of 2015 compared to 11.9 percent in the previous period, as the number of unemployed went up by 2.4 percent while employment dropped by 0.3 percent. A year ago the unemployment rate was recorded at 13.5 percent. Considering full 2015, the jobless rate was recorded at 12.4 percent from 13.9 percent in 2014.
INE | Joana Ferreira | joana.ferreira@tradingeconomics.com 2/10/2016 11:22:27 AM
The unemployed population was estimated at 633.9 thousand people, corresponding to a quarterly increase of 15.1 thousand or 2.4 percent. Unemployment decrease came mostly from: men (+ 5.2 percent); having completed, at most, an education level corresponding to the (upper) secondary and post-secondary non-tertiary education (+3.6 percent); looking for a first job (+11 percent) or seeking for a new one (+1.1 percent), having the latter been formerly in the agriculture, forestry and fishing sector (+72.8 percent) or in the services sector (+1.7 percent); and seeking a job for less than 12 months (+4.8 percent). 

Youth unemployment rate rose to 32.8 percent from 30.8 percent in the previous three months.

The employed population was estimated at 4,561.5 thousand people, which corresponds to a quarterly decrease of 13.8 thousand or 0.3 percent, affecting mostly: women (-0.8 percent); people aged 15 to 34 (-2.2 percent); having completed, at most, the first or second stages of basic education (-1.9 percent); employed in the agriculture, forestry and fishing sector (-5.5 percent) and in the manufacturing, electricity, gas and water supply and construction sector (-0.5 percent).
The participation rate was recorded at 58.6 percent, the same as in the previous quarter and up 0.1 p.p. from the same quarter of last year.

Year-on-year, the number of unemployed went down by 64.4 thousand people or 9.2 percent while the number of employed people rose by 69.9 thousand or 1.6 percent. 

Considering full 2015, the unemployment rate was recorded at 12.4 percent from 13.9 percent in 2014. There were 646.5 thousand unemployed people, down 79.5 thousand or 11 percent from the previous year. The employed population, estimated to be 4,548.7 thousand people, recorded an annual increase of 49.2 thousand or 1.1 percent.

Portuguese Jobless Rate Rises to 12.2% in Q4