LISBON: Portugal's jobless rate fell for the fourth consecutive quarter in the three months that ended in March, to 15.1 percent from 15.3 percent in the previous quarter, data showed on Friday.
The unemployment rate was also much lower than 17.5 percent recorded in the same period a year ago, the National Statistics Institute said, providing further evidence that growth in the bailed-out economy is accelerating.
The institute said that the number of unemployed fell to 788,100 people in the first quarter from 808,000 in the previous quarter.
Still, the share of unemployed young people rose to 37.5 percent in the first quarter from 36.1 percent in the last quarter of 2013.
Unemployment had continually risen during the country's debt crisis, to a record high in the first quarter of 2013 as the country grappled with its worst recession since the 1970s under the weight of austerity imposed by a bailout.But it has fallen since then as the economy returned to growth in the second quarter of last year.
indiatimes.com
The unemployment rate was also much lower than 17.5 percent recorded in the same period a year ago, the National Statistics Institute said, providing further evidence that growth in the bailed-out economy is accelerating.
The institute said that the number of unemployed fell to 788,100 people in the first quarter from 808,000 in the previous quarter.
Still, the share of unemployed young people rose to 37.5 percent in the first quarter from 36.1 percent in the last quarter of 2013.
Unemployment had continually risen during the country's debt crisis, to a record high in the first quarter of 2013 as the country grappled with its worst recession since the 1970s under the weight of austerity imposed by a bailout.But it has fallen since then as the economy returned to growth in the second quarter of last year.
indiatimes.com
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