Contact Us
Make My Homepage

Portugal Jobless Rate Down for First Time in Two Years

Getty Images

Portugal’s statistics agency says the bailed-out country’s unemployment rate has fallen for the first time in two years.

The National Statistics Institute said Wednesday that preliminary estimates show the jobless rate in the second quarter dropped to 16.4 percent from a record 17.7 percent in the first quarter. A revised and final estimate is due later this month.

The agency didn’t provide reasons for the fall but the summer vacation season often brings more job openings. The biggest drop among regions was in the Algarve, one of Europe’s top holiday destinations, where the fall was 3.6 percentage points.

Portugal has been in recession for the last 10 quarters. It needed a 78 billion euros ($104 billion) rescue in 2011 after a decade of weak growth pushed it close to bankruptcy.

[Associated Press]

Best of WBSM

Recommended For You

Around the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://wbsm.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for 1420 Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive 1420 Club contests, events, coupons, presales, and much more delivered to you for FREE.