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Showing posts from October, 2018

NUMBER OF UNEMPLOYMENT DROPS

According to a monthly report on the employment market released by the Institute of Employment and Professional Training (IEFP), the total number of unemployed people was lower than the number registered in the same month of 2017 (-85,169 or -17.5%), and higher compared to the previous month (788 or 0.2%).

The Government expects the country’s Gross Domestic Product (GDP) to grow by 2.2% next year, the unemployment rate to hit 6.3% and public debt to drop to 118.5% of GDP, while promising civil servants higher pay and raising social benefits.

Portugal has seen strong recovery since the 2011-2014 financial crisis, with the economy supported by foreign investment, tourism and rising exports.