Unemployment falls to 13-year low

Portugal’s unemployment rate fell below 8% in December for the first time in more than 13-years.

The news has been reported by international papers as yet more proof that what was disparagingly called “a three-legged Socialist government” has managed to pull the proverbial rabbit out of the hat as far as Portugal’s fortunes are concerned.

Unemployment has been falling steadily after peaking at more than 17% in 2013.

Statistics show that the figure was down to just 7.8% in December, the lowest since July 2004.

Says the Financial Times, the only sticking point is youth unemployment, which remains “stubbornly high” though there has been slight improvement.

As of December, the percentage for 15-24 year olds out of work was ‘down to 22.1%’, a full four point improvement on the 26.2% rate pegged in December 2016.

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