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Diário Económico - Portugal | Friday, May 10, 2013

Portugal's record unemployment unacceptable

At 17.7 percent the unemployment rate in Portugal has reached a record high in the first quarter of 2013. According to a report by the National Institute of Statistics (INE) on Friday, that's 2.8 percent more than in the same period last year. In 2008 unemployment was at just 7.6 percent. The liberal daily Diário Económico is shocked: "The disease of unemployment is spreading inexorably: 952,000 are now officially without work, but the real figure is far higher - probably over a million. … A sad new record that looks set to rise even higher. … And no one seems to be able to stop the haemorrhaging that will eventually kill Portugal. Only 40 percent of the total population is employed. That's 4.4 million workers who must support the entire country. … What an unbearable situation, particularly since youth unemployment is at more than 40 percent and forcing an entire generation to emigrate."

» To the complete press review of Friday, May 10, 2013

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