Unemployment in Portugal

Portugal Unemployment | Economic News & Forecasts

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 Rate14.1  12.4  11.1  8.9  7.0  

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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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