Portugal Jobless Rate Stable For Second Month

Portugal’s unemployment rate held steady for the second straight month in January, preliminary figures from Statistics Portugal showed Monday.

The seasonally adjusted jobless rate came in at 12.2 percent at the start of the year, the same rate as in the previous two months.

In the corresponding month last year, the unemployment rate was 13.7 percent.

The number of unemployed people decreased to 619,500 in January from 620,600 in the preceding month. A year ago, the jobless figure totaled 703,100.

The youth unemployment rate, which applies to the 15 to 24 age group, dropped to 29.9 percent in January from 30.1 percent in December.

The employment rate decreased marginally to 57.2 percent in January from 57.4 percent in the prior month.

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