Unemployment rate drops to lowest since early 2011. But there are fewer jobs – Observer

The unemployment rate stood at 10.8% in the second quarter, according to figures estimated by the National Statistics Institute (INE). This figure reflects a decrease from the previous quarter by 1.6 percentage points and a decrease of 1.1 percentage points over the same quarter last year.

The INE points out that the unemployment rate among April to June is the “lowest since the 1st quarter of 2011,” before the request for assistance Portugal and the arrival of the troika. This period marks indeed the beginning of a statistical series, with new criteria, so comparisons with previous figures are not correct. The quarterly rate announced is now the lowest of the whole series, but that does not mean that there are more people in work than in early 2011, instead.

In the first quarter 2011, the unemployment rate was 12.4%, but the number of employed persons was 4,775,000. In the second quarter of this year, with unemployment at 10.8%, the number of employees was 4.603 million euros.

The net balance between the two periods points to least 172,000 posts work . But as the active population fell by 289,000 people, the unemployment rate turned out also to download, to such lower value since the beginning of 2011. The implementation of the adjustment program, from the third quarter of 2011, was accompanied by a continued increase in unemployment figures, a situation that was only locked from the second quarter of 2013.

unemployment fell to the second and third quarters of last year, with the rate to stabilize at 11, 9%, but the quarterly figures were up in the following two periods.

Still based on estimates released by INE for the second quarter, the unemployed population was 559,300 people, which represents a decrease of 12.6% from the previous quarter, or less 80,900 people.

the employed population grew by 2% to 4.6025 million people, which corresponds to over 89,200 employees. Growth in whch was more moderate, 2% more than in the previous quarter and 0.5% in the same quarter. In chain analysis in relation to the previous quarter, INE highlights that the evolution of the employed population “contrasts with the declines recorded in the last three quarter. In the 2nd quarter 2016, the increase was 2% and “. However, it points out that the rise of the employed population “is common in 2nd quarters of each month, although with different amplitudes.”

The employed population increased in both genders, but more it was more significant in men, with an increase of 2.6%, highlighting the rise registered in the segment of people aged between 45 and 64 years. The unemployment rate is however almost tied:. 10.8% in men and 10.9% in women

Regarding the unemployed population – estimated 559,300 people – was verified a 12.6% decline in the previous quarter. But this indicator, the decrease “rather sharp” has occurred in recent years. Last year, the decrease of unemployed was 13% over the second quarter 2014.

Algarve was the region that recorded the largest decrease in the rate of unemployment in the previous quarter, which helps explain the seasonal decline that occurs at this time, given the importance of tourism and additional services in the economy of the region that recorded the lowest unemployment rate, 8.1% . Unemployment fell in almost all regions, except for the Alentejo.

The INE data also point to a very slight increase of the active population over the previous quarter, 0.2%. However, there was a 0.8% decline compared to the second quarter of 2015, which corresponds to less 39,300 people.