Overseas property news - Unemployment falls in portugal

Unemployment falls in portugal

Photo: Chris Yunker

Unemployment is estimated to have fallen in Portugal for the third month in a row.

The provisional figures from Statistics Portugal estimate that unemployment was 13 per cent, down 0.2 percentage points from March 2015.

In April 2015, the provisional estimate for the employed population was 4,486.3 thousand people, which corresponds to another 0.5 per cent increase from the
previous month (22.1 thousand).

In March 2015, the unemployed population was estimated to be 678.5 thousand people, having decreased by 2 per cent from the previous month (13.9 thousand).  In April 2015, the provisional estimate for the unemployed population was 667.8 thousand people, having decreased by 1.6 per cent from the previous month (10.7 thousand).

The estimates for April 2015 are provisional, as they correspond to a moving quarter, but the next press release will confirm the final figures. Nonetheless, they continue to boost the positive sentiment surrounding the Portuguese economy. Confidence among estate agents remained close to a record high in April 2015, according to the latest RICS/Ci market report, which highlighted both improving sales and prices.

Recent figures have also shown new mortgage loans increased 20 per cent during the second half of 2014.

RICS Chief Economist, Simon Rubinsohn, comments: "Encouragement should be taken from recently released GDP figures, confirming the economic recovery remains very much on track. Nonetheless, continued improvement in this regard will be required to support the recovery in the housing market, which remains in its infancy."

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