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Financial News: Portugal Q1 Jobless Rate Falls

Portugal Q1 Jobless Rate Falls

05/11/2022 - 10:18:00 (RTTNews)

(RTTNews) - Portugal's unemployment rate declined in the March quarter, figures from Statistics Portugal showed on Wednesday.

The jobless rate dropped to 5.9 percent in the first quarter from 6.3 percent in the preceding three-month period.

In the corresponding quarter last year, the unemployment rate stood at 8.3 percent.

The number of unemployed persons decreased to 308,400 in the first quarter from 330,600 in the previous quarter.

The youth unemployment rate, which applies to the 16 to 24 age group, dropped to 20.6 percent from 23.4 percent.

The employment rate came in at 56.4 percent in the first quarter, up from 56.0 percent in the December quarter.

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