For four consecutive months, unemployment registered by the Employment and Professional Training Institute (IEFP) has been increasing, according to a report by ECO.

“At the end of October 2023, 303,356 unemployed individuals were registered with the employment services of the continent and autonomous regions. The total number of unemployed people registered in the country was higher than that seen in the same month of 2022 (+14,231; +4.9%) and in the previous month (+3,243; +1.1%)”, explains the IEFP.

Unemployed people registered in employment centres for less than 12 months contributed to this evolution. In contrast, there was a decrease in those registered 12 or more months ago.

On the other hand, among the various regions of the country, with the exception of the Azores and Madeira, unemployment increased year-on-year. The highest figure was recorded in the Algarve, where unemployment rose 8.9% compared to a year ago.

As a whole, the North and Centre regions managed to see unemployment fall, but in other areas of the country, the trend was towards an increase. In the Algarve, unemployment grew 23.1% compared to September.