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 February of 2021.

Unemployment Rate in Portugal is expected to be 10.80 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 8.00 in 12 months time. In the long-term, the Portugal Unemployment Rate is projected to trend around 7.00 percent in 2022, according to our econometric models.

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Portugal Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.10 7.80 17.50 3.70 1983 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-06 10:00 AM Q1 6.7% 6.7% 7.6%
2020-08-05 10:00 AM Q2 5.6% 6.7% 7.6%
2020-11-04 11:00 AM Q3 7.8% 5.6% 7.1%
2021-02-10 11:00 AM Q4 7.1% 7.8% 8.6%
2021-05-06 10:00 AM Q1 7.1% 9.5%
2021-08-05 10:00 AM Q2
2021-11-04 11:00 AM Q3


News Stream
Portugal Jobless Rate Falls in Q4
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
2021-02-10
Portugal Jobless Rate at 2-1/2-Year High
The unemployment rate in Portugal jumped to 7.8 percent in the third quarter of 2020 from 5.6 percent in the previous period. It is the highest jobless rate since the first three months of 2018 as the number of unemployed jumped by 45.1 percent to 404.1 thousand, the biggest increase since at least 2011, as many people moved from inactive to unemployed after the easing of lockdown restrictions. Employment rose at a slower 1.5 percent to 4.8 million and those inactive fell 4.8 percent to 3.7 million.
2020-11-04
Portugal Jobless Rate at Over 17-Year Low as Fewer People Look for Work
The unemployment rate in Portugal fell to 5.6 percent in the second quarter of 2020 from 6.7 percent in the previous three-month period. It was the lowest jobless rate since the third quarter of 2002, as the number of inactive people rose the most on record due to the coronavirus crisis. The number of unemployed dropped by 20 percent from the previous quarter to 278.4 thousand and employment declined by 2.8 percent to 4.73 million, of which 680.1 thousand people were absent from work, an increase of about ten times more people than in the previous quarter. Youth unemployment rate, measuring job-seekers between 20 and 24 years old, went up to 19.9 percent from 19.7 percent in the prior period.
2020-08-05
Portugal Jobless Rate Flat as Fewer People Look for Work
The unemployment rate in Portugal was unchanged at 6.7 percent in the first quarter of 2020, as the number of inactive people increased the most in nine years due to the coronavirus crisis. The number of unemployed fell by 1.2 percent from the previous quarter to 348.1 thousand while employment went down by 0.9 percent to 4.87 million, of which 452.1 thousand people were absent from work, an increase of 33 percent from the previous quarter. Youth unemployment rate, measuring job-seekers between 20 and 24 years old, increased to 19.7 percent from 19.5 percent in the prior period.
2020-05-06

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.