Jobless rate hits new record in Portugal

These figures, relevant to the first three months of 2013, show that more than 165,000 people aged 15 to 24 currently claim unemployment benefits.

During the first quarter of 2012, this figure stood at 36.2 percent, but had risen to 40 percent by the end of the final quarter of last year.

Overall, unemployment in Portugal rose to 17.7 percent in the first quarter of the year from 16.9 percennt at the end of last year with over 952,000 people out of work the National Statistics Institute (INE) said.

The unemployment rate was up 0.8 percentage points from one quarter to another and 2.8 percentage points on 12 months earlier.

The figures from the first quarter of 2013 were the highest ever, with the numbers rising constantly since the second half of 2008 when 7.3 percent, equivalent to about 410,000, were jobless.

Carlos Silva, general secretary of the UGT trade union confederation appealed to the government Thursday to analyse the documents that are on the table for the social agreement to promote job creation measures.

“The documents have to be compiled to encourage ways of creating growth and jobs”, Silva said following the unemployment numbers released earlier in the day.

The opposition Socialist party said the number of job seekers was proof the government’s

policies were “destroying the economy and society”.

via Jobless rate hits new record – The Portugal News.

via Jobless rate hits new record – The Portugal News.

About Old Boy

Love the past and the future but live in the present

Posted on May 18, 2013, in Banking, buisiness, EU, Government, IMF/ECB, Local politics, politics and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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