The National Statistics Institute (INE) said that in the 1st quarter, the unemployment rate rose to 13.26% from 12.87% in the 4th quarter. Economists had expected unemployment to rise only to 12.9%.
The number of employed decreased by 11.1 thousand or 0.05% compared to the previous quarter, to 20.453 million. In annual terms, employment increased by 368,000 people or 1.83%.
Compared to the 4th quarter, employment decreased by 8,800 in the private sector and 2,300 in the public sector. Over the past 12 months, employment has increased by 312,300 people in the private sector and by 55,700 people in the public sector.
The data also showed that the number of unemployed increased by 103.8 thousand or 3.43% compared to the 4th quarter, to 3.128 million. Over the past 12 months, unemployment has decreased by 47 thousand people or by 1.48%.