Unemployment rate (annual) in Portugal

The unemployment rate is the share of jobless people in the total labour force. It is the main gauge of Portugal's labour market and of the economy's ability to create jobs. It is published by Statistics Portugal (INE) using ILO criteria.

It is derived from the Labour Force Survey run by Statistics Portugal among a sample of households, using ILO criteria: a person is unemployed if they are without work, available to work and actively seeking a job. The harmonised criteria allow international comparison.

Its path reflects the momentum of the Portuguese economy and the progress of its recovery after the debt crisis. Falling unemployment boosts consumption and household income and is a key input for ECB policy, since Portugal belongs to the euro area.

It is worth distinguishing whether the rate moves because of shifts in labour demand or in the labour force, including emigration. Survey data are subject to sampling error and revision, and seasonal employment (tourism) shapes its profile.