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Portuguese unemployment falls to lowest level since September 2002

Source: Xinhua| 2018-08-31 04:32:48|Editor: yan
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LISBON, Aug. 30 (Xinhua) -- Portuguese unemployment in June was at its lowest level since September 2002, the National Statistics Institute (INE) confirmed on Thursday.

The headline rate came in at 6.8 percent, a 0.1 percentage point upward revision of an earlier estimate. In monthly terms, unemployment was 0.2 percentage points lower in June than in May, and 2.3 percentage points lower than in the corresponding period last year.

The initial estimate for July is for no-change at 6.8 percent.

The positive news did not quite tally with consumer confidence figures also released by the INE on Thursday.

Consumer confidence fell for the third consecutive month in August, with respondents citing concerns about unemployment.

However, May's consumer confidence reading was a best score in 20 years, and so the downtick is perhaps best explained by a sense of correction.

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