Portugal November unemployment flat at 12.4pc

06 Jan, 2016

LISBON: Portugal's unemployment rate remained unchanged at 12.4 percent in November, data from the National Statistics Institute (INE) showed on Wednesday.

The monthly unemployment rate has now remained flat for three months following a slight rise from 12.3 percent in August.

In November 2014 unemployment stood at 13.5 percent. The jobless rate, which peaked in early 2013 at over 17 percent, had been falling as the economy returned to modest growth last year after a three-year recession.

According to the monthly unemployment data introduced by INE last year, the youth unemployment rate of those aged 15 to 24 rose to 33.4 percent in November from 32.4 percent in October.

The total number of unemployed rose to 636,900 people in November from 633,900 in October, INE said.

Copyright Reuters, 2016

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