The unemployment rate in Portugal dropped to 6.1 percent in the third quarter of 2019 from 6.3 percent in the previous three-month period and below last year's 6.7 percent. It was the lowest jobless rate since the third quarter of 2003, as the number of unemployed declined by 1.5 percent from the previous quarter to 323.4 thousand and employment rose 0.9 percent to 4.95 million. Youth unemployment rate, measuring job-seekers between 15 and 24 years old, increased to 17.9 percent from 18.1 percent in the previous period. The activity rate edged up 0.3 p.p. to 59.5 percent and the employment rate rose 0.3 p.p. to 55.8 percent. Unemployment Rate in Portugal averaged 7.78 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 6.50 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 5.70 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.

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Portugal Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
6.10 6.30 17.50 3.70 1983 - 2019 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-02-06 11:00 AM Q4 6.7% 6.7% 6.9%
2019-05-08 10:00 AM Q1 6.8% 6.7% 7%
2019-08-07 10:00 AM Q2 6.3% 6.8% 6.4%
2019-11-06 11:00 AM Q3 6.1% 6.3% 5.9%
2020-02-05 11:00 AM Q4 6.1% 6.5%


News Stream
2019-08-07
Portugal Jobless Rate at 15-Year Low
The unemployment rate in Portugal dropped to 6.3 percent in the second quarter of 2019 from 6.8 percent in the previous three-month period and below last year's 6.7 percent. It was the lowest jobless rate since the second quarter of 2004, as the number of unemployed declined by 7.1 percent from the previous quarter to 328.5 thousand and employment rose 0.7 percent to 4.92 million. Youth unemployment rate, measuring job-seekers between 15 and 24 years old, increased to 18.1 percent from an eight-year low of 17.6 percent. The activity rate edged up 0.1 p.p. to 59.2 percent and the employment rate rose 0.4 p.p. to 55.5 percent.

2019-05-08
Portugal Jobless Rate Edges Up to 6.8% in Q1
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.

2019-02-06
Portugal Jobless Rate Holds Steady at Near 14-Year Low
The unemployment rate in Portugal was unchanged at a near 14-year low of 6.7 percent in the fourth quarter of 2018 and was 1.4 percentage points below last year's 8.1 percent. The number of unemployed fell 1 percent from the previous three-month period to 349.1 thousand and employment declined 0.4 percent to 4.88 million. Youth unemployment rate, measuring job-seekers between 15 and 24 years old, edged down to 19.9 percent in the fourth quarter from 20 percent in the previous period. The activity rate decreased 0.3 percentage points to 59.1 percent and the employment rate dropped by the same amount to 55.1 percent.


Portugal Unemployment Rate
In Portugal, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Portugal Labour Last Previous Highest Lowest Unit
Unemployment Rate 6.10 6.30 17.50 3.70 percent [+]
Employed Persons 4840.60 4869.40 5007.40 4215.20 Thousand [+]
Unemployed Persons 351.60 343.60 927.70 174.60 Thousand [+]
Part Time Employment 490.30 518.70 678.90 490.30 Thousand [+]
Full Time Employment 4457.50 4398.00 4516.50 3725.70 Thousand [+]
Employment Rate 55.80 55.50 59.20 48.80 percent [+]
Labor Force Participation Rate 59.50 59.20 62.50 58.10 percent [+]
Long Term Unemployment Rate 2.90 2.70 9.40 1.40 percent [+]
Youth Unemployment Rate 19.00 18.30 41.40 11.10 percent [+]
Labour Costs 97.80 103.90 112.50 63.20 points [+]
Job Vacancies 9020.00 11013.00 17645.00 1083.00 [+]
Wages 1170.63 1166.86 1170.63 809.34 EUR/Month [+]
Wages in Manufacturing 139.97 107.45 146.86 85.00 points [+]
Wage Growth 4.70 5.90 8.50 -10.10 percent [+]
Minimum Wages 700.00 700.00 700.00 356.72 EUR/Month [+]
Population 10.29 10.31 10.57 8.62 Million [+]
Retirement Age Women 66.42 66.33 66.42 65.00 [+]
Retirement Age Men 66.42 66.33 66.42 65.00 [+]
Unemployment Change -1263.00 -3048.00 35638.00 -31613.00 [+]
Wages Low Skilled 659.00 626.00 687.00 626.00 EUR/Month [+]
Wages High Skilled 1430.00 1340.00 1430.00 1340.00 EUR/Month [+]
Productivity 111.70 102.80 111.70 78.00 points [+]
Living Wage Family 990.00 960.00 990.00 800.00 EUR/Month [+]
Living Wage Individual 670.00 650.00 670.00 505.00 EUR/Month [+]
Employment Change 0.30 -0.30 1.30 -3.00 percent [+]