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Portugal’s unemployment figures finally drop

unemployedOver the course of the last twelve months, unemployment in Portugal has fallen to 15.3%, down from 17.5% in February 2013.

The average in the eurozone was 11.9% and has been roughly the same over the course of the twelve months to February 2014.

The whole of the euro area has an estimated 19 million people seeking work.

Portugal enjoyed the greatest drop in unemployment of any country in the eurozone, followed by Ireland (13.7% to 11.9%).

The percentage of young people seeking jobs also fell from 40% last year to 35% now.

Greece (27.5% in December 2013) and Spain (down by 1% to 25.6%) remain the two countries with the highest rates of people desperate for work.

Youth unemployment in Spain dropped by 2%, but at 53.6% it still means that more than half of the country’s young people are denied the chance to get a good start to adult life. The same fate has befallen Greek youths (58.3%).

The lowest unemployment rates in the eurozone remain Austria and Germany (both around 5%) and Luxembourg (6%).

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