In February, the unemployment rate in Portugal decreased to 6.8% and the labour underutilisation rate to 12.0%

April 1, 2023

• The active population (5,265.5 thousand) increased compared to December 2022 (0.9%), to October 2022 (1.2%) and to January 2022 (1.6%) in Portugal.

• The employed population (4,897.3 thousand) increased by 0.6% from the previous month and by 0.2% from both three months before and a year earlier.

• The unemployed population (368,2 thousand) increased by 5.2% compared to December 2022, by 16.3% compared to October and by 23.8% compared to January of the same year.

• The unemployment rate stood at 7.0%, up 0.3 percentage points (pp) from the previous month, up 0.9 pp from three months before and up 1.3 pp from a year earlier.

• The inactive population (2,422.5 thousand) decreased over the three periods under comparison (previous month, three months earlier and the same month a year before): by 0.8%, 1.3% and 2.3%, respectively.

• The labour underutilisation rate was estimated at 12.2%, the same value as in the previous month, up 0.8 pp from three months before and up 0.9 pp from one year earlier.

February 2023:

• The active population (5,283.1 thousand) increased compared to January 2023 (0.3%), to November 2022 (1.5%) and to February 2022 (1.9%).

• The employed population (4,923.5 thousand) increased from the previous month (0.5%), from three months before (1.1%) and from a year earlier (0.6%).

• The unemployed population (359.6 thousand) decreased from the previous month (2.3%), having increased from three months before (7,1%) and from a year earlier (23.1%).

• The unemployment rate stood at 6.8%, down 0.2 pp from January 2023, but up from November and February 2022 (0.3 pp. and 1.2 pp, respectively).

• The inactive population (2,404.3 thousand) decreased by 0.7% from the previous month, by 2.1% from three months before and by 3.0% from one year earlier.

• The labour underutilisation rate stood at 12.0%, down 0.2 pp from the previous month, but up 0.2 pp from three months before and up 0.9 pp from the same month of 2022.

Source: Statistics Portugal
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