Number of unemployed people drops again

By TPN/Lusa, in Business · 23-10-2018 08:34:00 · 0 Comments
Number of unemployed people drops again

The number of unemployed people registered in Portugal’s employment services in September amounted to 338,935, a 17.1% drop compared to the same month in 2017 and a rise of 0.2% compared to August, according to figures revealed on Monday.

According to a monthly report on the employment market released by the Institute of Employment and Professional Training (IEFP), the total number of unemployed people was lower than the number registered in the same month of 2017 (-85,169 or -17.5%), and higher compared to the previous month (788 or 0.2%).

The Socialist government expects the country’s Gross Domestic Product (GDP) to grow by 2.2% next year, the unemployment rate to hit 6.3% and public debt to drop to 118.5% of GDP, while promising civil servants higher pay and raising social benefits.

Portugal has seen strong recovery since the 2011-2014 financial crisis and the ruling Socialist government has been rolling back austerity in the past three years, with the economy supported by foreign investment, tourism and rising exports.


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