The unemployment rate in Portugal dropped to 7.1 percent in the fourth quarter of 2020, from a two-and-a-half-year high of 7.8 percent in the previous period. The number of unemployed fell by 7.7 percent to 373.2 thousand, after posting the biggest increase since at least 2011 in the previous three-month period as many people moved from inactive to unemployed after the easing of lockdown restrictions. Employment rose at a slower 1.2 percent to 4.86 million and those inactive declined 0.4 percent to 3.69 million source: Statistics Portugal
Unemployment Rate in Portugal averaged 7.74 percent from 1983 until 2020, 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. This page provides - Portugal Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Unemployment Rate in Portugal is expected to be 7.90 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 8.60 in 12 months time. In the long-term, the Portugal Unemployment Rate is projected to trend around 7.50 percent in 2022 and 7.00 percent in 2023, according to our econometric models.