In March, the unemployment rate stood at 6.9% in Portugal

May 10, 2023

• The active population (5,273.8 thousand) increased compared to January 2023 (0.2%), to November 2022 (1.3%) and to February 2022 (1.7%) in Portugal.

• The employed population (4,910.0 thousand) increased by 0.3% from the previous month, by 0.9% from three months before and by 0.4% from a year earlier.

• The unemployed population (363,8 thousand) decreased by 1.3% from January 2023, having increased by 8.3% from November 2022 and by 24.6% from February of that year.

• The unemployment rate stood at 6.9%, down 0.1 percentage points (pp) from the previous month, up 0.4 pp from three months before and up 1.3 pp from a year earlier.

• The inactive population (2,413.6 thousand) decreased from the three periods under comparison (previous month, three months earlier and the same month a year before): by 0.4%, 1.7% and 2.6%, respectively.

• The labour underutilisation rate was estimated at 12.1%, down 0.1 pp from the previous month, up 0.3 pp from three months before and up 1.0 pp from one year earlier.

March 2023:

• The active population (5,274.3 thousand) remained practically unchanged from the previous month, having increased from December 2022 (1.1%) and from March 2022 (1.6%).

• The employed population (4,911.8 thousand) had a nearly null relative change from the previous month, having increased from three months before (0.9%) and from a year earlier (0.4%).

• The unemployed population (362.5 thousand) decreased from the previous month (0.3%), having increased from three months before (3.6%) and from a year earlier (21.3%).

• The unemployment rate stood at 6.9%, the same value as in February 2023, but up from December and March 2022 (0.2 pp. and 1.1 pp, respectively).

• The inactive population (2,412.4 thousand) remained practically unchanged from the previous month, having decreased by 2.1% from three months before and by 2.4% from one year earlier.

• The labour underutilisation rate stood at 12.1%, as in the previous month, down 0.1 pp from three months before and up 0.8 pp from the same month of 2022.

Source: Statistics Portugal
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