The unemployment rate in Portugal edged lower to 7.1 percent in the first quarter of 2021, from an upwardly revised 7.3 percent in the previous three-month period, as the number of unemployed fell by 3.5 percent to 360.1 thousand and employment declined at a slower 1.0 percent to 4.68 million. The employed population absent from work increased by 49.8 percent, or 211.3 thousand, from the previous quarter, mainly due to contract temporary suspension and layoff. As a consequence, the volume of hours actually worked decreased by 6.4 percent. The inactive population aged 16 and over increased by 1.4 percent to 3.75 million. Compared with the same period of 2020, unemployment rose by 3.5 percent and the inactive population advanced by 1.5 percent, while employment was down 1.3 percent. source: Statistics Portugal
Unemployment Rate in Portugal averaged 7.87 percent from 1983 until 2021, reaching an all time high of 18.50 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 June of 2021.
Unemployment Rate in Portugal is expected to be 6.70 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 6.80 in 12 months time. In the long-term, the Portugal Unemployment Rate is projected to trend around 6.50 percent in 2022 and 6.20 percent in 2023, according to our econometric models.