Portugal's unemployment rate stood at 6.7 percent in the third quarter of 2018, unchanged from the previous period's 14-year low. The number of unemployed was flat at 352.7 thousand while the number of employed increased by 0.6 percent to 4.90 million, pushing up the employment rate to 55.4 percent from 55.1 percent and the labour force participation rate to 59.4 percent from 59 percent. Youth unemployment rate, measuring job-seekers between 15 and 24 years old, rose to 20 percent in the third quarter from 19.4 percent in the previous three-month period. Unemployment Rate in Portugal averaged 7.81 percent from 1983 until 2018, reaching an all time high of 17.50 percent in the first quarter of 2013 and a record low of 3.70 percent in the second quarter of 2000.
Unemployment Rate in Portugal is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Portugal to stand at 5.60 in 12 months time. In the long-term, the Portugal Unemployment Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.