Unemployment soars in Portugal

After two months of relative stability, unemployment levels in Portugal shot up again in September.

Reaching levels of 12.5% of the working population, the figures released by Eurostat – the European Union statistical body – were the second worst set of figures on record, the worst being registered in April and May.

According to Eurostat, the latest figures are accompanying the average unemployment trends seen in the European Union and Euro countries where the number of unemployed rose from 9.7% to 10.2%.

In Portugal’s case, the September value equalled that of June which had followed a slight fall in unemployment in July and August from 12.5% to 12.4%. The record number of 12.6% was recorded for April and May.

When presenting the State Budget for 2012, the Government had already factored in that the employment market would deteriorate in 2012, estimating that the number of out of work would reach a new record high of 13.4% while its average estimates for the end of 2011 stand at 12.5%.

People under the age of 25 continue to be those who are most unlikely to get a job, as in all European Union countries.

Between August and September, the unemployment rate in this age group climbed from 26.9% to 27.1%.

The second worse off group were women (unemployment went from 12.7% to 12.9%) while men increased from 12.1% to 12.2%.