The unemployment rate in Portugal came in at 6.8 percent in the first quarter of 2019, little-changed from the previous period's 14-year low of 6.7 percent and well below last year's 7.9 percent. The number of unemployed rose 1.3 percent from the previous three-month period to 353.6 thousand and employment edged down 0.1 percent to 4.88 million. Youth unemployment rate, measuring job-seekers between 15 and 24 years old, fell to 17.6 percent in the first quarter, the lowest reading since comparable records began in 2011. The activity rate was unchanged at 59.1 percent and the employment rate stood at 55.1 percent. Unemployment Rate in Portugal averaged 7.80 percent from 1983 until 2019, 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 6.40 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 5.80 percent in 2020, according to our econometric models.