LISBON: Portugal's unemployment rate fell to 8.1 percent in the fourth quarter from 8.5 percent in the previous quarter, and below 10.5 percent in the same period of 2016, official data showed on Wednesday.
The National Statistics Institute said the average annual unemployment rate in 2017 was 8.9 percent, down from 11.1 percent in 2016.
Portugal's economy grew at its fastest rate in ten years last year, sharply boosting employment.
The data showed that the number of unemployed stood at 422,000 in the quarter, down from 444,000 in the preceding three months, while the total workforce slipped to nearly 5.23 million from 5.25 million.
The share of unemployed young people fell to 23.5 percent in the fourth quarter from 24.2 percent in the previous three-month period. A year earlier youth unemployment was 27.7 percent.
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