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Portugal’s unemployment rate falls to 9.5-year low

Page created: Wednesday, 29 November 2017 15:46 GMT

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Portugal’s unemployment rate fell to 8.5 per cent in September, the lowest level since April 2008, the country’s statistics office said on Wednesday. The jobless rate was down 0.3 percentage points from the August figure, having fallen 0.6 points since June. Unemployment had already dropped from 10.1 per cent to 8.8 per cent in the three months to June, bringing Portugal’s jobless rate below the eurozone average for the first time since the bloc’s sovereign debt crisis. Unemployment in the former bailout country peaked at more than 17 per cent in 2013. Youth unemployment, however, was almost three times as high as the overall level at 24.6 per cent in September, having increased from 23.1 per cent in June.