Unemployment rate remains at 6.7% in Q3 – Economy



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The unemployment rate remained at 6.7% in the third quarter, equal to the previous quarter, maintaining the lowest value in the series started in the first quarter of 2011, the National Statistics Institute (INE) reported today.

This figure is 1.8 percentage points lower than in the same quarter of 2017.

According to INE, the unemployed population, estimated at 352.7 thousand people, remained practically unchanged from the previous quarter, interrupting the quarterly decreases observed since the second quarter of 2016.

Compared to the same quarter of the previous year, there was a decrease of 20.6% (91.3 thousand).

The unemployment rate of men (6.2%) was lower than that of women (7.2%) by 1.0 percentage points, the first one decreased by 0.2 percentage points in relation to the previous quarter and the second one increased by 0, 1 percentage points.

The youth unemployment rate (aged 15-24) rose to 20%, corresponding to the second lowest value in the series started in the first quarter of 2011, after the lowest figure of 19.4% was observed in the quarter previous.

The percentage of unemployed looking for a job 12 months and over (long term) was 50%, down 2.3 percentage points from the second quarter of 2018.

The underemployment rate – which includes the unemployed population, underemployment of part-time workers, inactive job seekers but not available and inactive workers who are not looking for work – stood at 13.1% , down 0.2 percentage points from the previous quarter and 2.7 percentage points from the same quarter of 2017.

In this period, according to the INE, of the total of 2,209,300 young people (aged 15-34), 9.9% (219.3 thousand) were not employed, nor were they studying or in training, 0 percentage points over the previous quarter.

For the same quarter of the year, the rate of non-employed young people who were not in education or training decreased by 1.9 percentage points (44.6 thousand).

In the third quarter of 2018, the unemployment rate was higher than the national average in four regions of the country: Madeira (8.9%), Azores (8.7%), North (7.2%) and Lisbon Metropolitan Area 7.1%).

Below the national average were the unemployment rates of the Alentejo (6.6%), the Center (5.4%) and the Algarve (5.0%).

In relation to the previous quarter, according to the INE, the unemployment rate remained unchanged in the North, increased in Madeira (0.6 percentage points), in the Azores (0.5 percentage points) and in the Center (0.1 points percentage) and decreased in the Lisbon Metropolitan Area (0.1 percentage points) in the Algarve and Alentejo (0.3 percentage points in both regions).

Compared to the same quarter, the unemployment rate fell in all regions, except in the Azores (where it increased 0.5 percentage points).

The three largest decreases occurred in the Lisbon Metropolitan Area (2.3 percentage points), in the North (2.1 percentage points) and in the Center (1.4 percentage points)

The employed population, estimated at 4,902.8 thousand people, registered a quarterly increase of 0.6% (28.7 thousand) and a year-on-year increase of 2.1% (99.8 thousand).

In these quarterly estimates was considered the population with 15 years and more and the values ​​are not adjusted for seasonality, signals the INE.

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