FX.co ★ Portugal Jobless Rate Falls To 6.4%

Portugal experienced a decline in its unemployment rate in December, following a period of stability in the previous month, according to preliminary data released by Statistics Portugal on Wednesday. The jobless rate, adjusted for seasonal variations, fell to 6.4% in December, down from 6.6% in November. This rate aligns with the figures from December of the prior year, which also recorded a 6.4% unemployment rate. The number of unemployed individuals decreased to 352,400 in December from 359,500 in November. Among those aged 16 to 24, the youth unemployment rate decreased to 21.3% in December from 21.8% in November. Meanwhile, the employment rate slightly increased to 64.4% in December, compared to 64.2% in the previous month.