Unemployment in Portugal
Portugal - Unemployment
Economic activity appears to have declined markedly towards the end of the first quarter, with worse likely to come in the second quarter. Consumer and business confidence hit multi-year lows in April, while recent survey data showed 80% of firms have seen a decrease in turnover, which prompted most businesses to cut employment levels. This came despite news that lockdown measures will be gradually lifted from 3 May, although controls are set to remain in place throughout the summer, likely affecting key tourism and service sectors. Meanwhile, both Fitch Ratings and S&P Global Ratings revised their outlooks to stable from positive, while affirming their respective BBB ratings. Both rating agencies highlighted the impact that the pandemic could have on previously improving debt levels, while emphasizing the country's vulnerability to external shocks ahead.Portugal - Unemployment Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Unemployment Rate | 14.1 | 12.4 | 11.1 | 8.9 | 7.0 |
Portugal Unemployment Chart
Source: Statistics Portugal (INE).
Portugal Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.45 | -1.90 % | Jan 01 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Portugal: Economy logs worst contraction in history in Q1 amid Covid-19 blow
May 15, 2020
According to preliminary estimates released by the country’s Statistical Institute (INE) on 15 May, economic activity plunged 3.9% in quarter-on-quarter, seasonally-adjusted terms in the first quarter, marking the worst result on record as Covid-19 took its toll (Q4 2019: +0.7% quarter-on-quarter).
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Portugal: Consumer and business sentiment fall to over six-year lows in April
April 29, 2020
Consumer sentiment plummeted to minus 41.6 points in April from minus 13.7 points in March, subsiding to the lowest level since May 2013.
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Portugal: Industrial outputs plunges at sharpest rate in almost eight years in March
April 29, 2020
Industrial production dived 7.2% in March over the same month of the previous year, contrasting the revised 0.9% rise in February (previously reported: +1.0% year-on-year) and marking the sharpest contraction in output since April 2012.
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Portugal: Industrial production growth slows in February
March 30, 2020
Industrial production pushed 1.0% higher in February over the same month of the previous year, but decelerated from a revised 2.3% rise in January (previously reported: +2.0% year-on-year).
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Portugal: Consumer confidence nosedives and business sentiment weakens in March
March 30, 2020
Consumer sentiment slumped to minus 13.7 points in March from minus 7.6 points in February, marking an over four-year low.
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