As to the total values of 2016, now released by the National Institute of Statistics (INE), there is a decline in the order of 1.3 percentage points, this year-on-year.The rate of unemployment in 2016 is a tenth below what had been expected by the Government in October and two-tenths less than estimated in the State Budget for 2016.
The unemployment rate of young people – those between 15 and 24 years – stood at 28 per cent, a significant reduction of four percentage points compared to the previous year.
The evaluation of the numbers in the chain leads to the stabilization of the unemployment rate, since the four quarter maintains the value of the third quarter of 2016 (10.5 percent).
Also in quarterly terms the unemployed population (estimated at 543,2 thousand persons) registered a decrease of 1.2 percent – or less 6.3 thousand people – and a decrease year-on-year of 14.3 percent (less 90,7 thousand people).
The final value of the unemployment rate (11,1 percent) turns out to be below what was expected by the Executive. In the State Budget for 2017, the Government estimated that the rate set in 11.2 percent in 2016. The report revealed at the beginning of the week by the OECD predicts that the unemployment rate remains above 10 per cent until 2018.
The rate for this year, the Government estimated in October that it would drop to 10.4 percent.
In comparison with the estimate of the Board of the Public Finances, the value is also slightly lower than expected. In September, the institution led by Teodora Cardoso had expected a rate of 11.4 percent. The number is in line forecasts from the Bank of Portugal, the International Monetary Fund (IMF) and OECD, were anticipating an unemployment rate of 11 percent.
the European Commission Alone nailed it on the definitive amount to set as a goal 11.1 percent now confirmed by the INE.