FX.co ★ Portugal Unemployment Keeps Falling

In July 2025, Portugal's seasonally adjusted unemployment rate decreased to 5.8%, marking the lowest level since April 2020 and down from a revised 6.1% in June. The number of unemployed individuals fell by 15,700, reaching a total of 323,100. Concurrently, employment rose by 17,400, achieving a notable figure of 5.26 million, unprecedented since February 1998. Additionally, the labor underutilization rate, encompassing those unemployed, marginally attached to the labor force, and part-time workers seeking full-time roles, declined to 10% in July from 10.3% in the previous month. Meanwhile, the activity rate slightly dropped to 69.4% from 69.5% in June.