Unemployment in Portugal

Portugal Unemployment | Economic News & Forecasts

Portugal - Unemployment

After Q1’s surprisingly positive GDP figures, growth appears to be normalizing in Q2. In April, consumer sentiment remained quite downbeat due to the war in Ukraine, while inflation continued to spike, which is likely to weigh on consumer spending. On the other hand, business confidence ticked up in April, while the tourism sector performed robustly during the same month. The stronger-than-expected recovery, coupled with a degree of public spending restraint, led Fitch Ratings to revise the country’s outlook from stable to positive in early May, while the finance minister vowed to reduce the public debt at a faster pace to help ensure financial stability. The European Commission recently drew attention to upward pressure on public spending stemming from the country’s sizeable public sector wage bill, while the IMF has called for measures to bolster pension sustainability.

Portugal - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate12.4  11.1  8.9  7.0  6.6  

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Portugal Unemployment Chart


Portugal Unemployment
Note: Unemployment in % of active population.
Source: Statistics Portugal (INE).

Portugal Facts

Value Change Date
Bond Yield0.45-1.90 %Jan 01
Exchange Rate1.120.65 %Dec 31

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