“At the end of May 2024, 310,263 unemployed individuals were registered with the employment services of the continent and autonomous regions”, informs the IEFP.

Compared to what was recorded in May 2023, there has now been an increase of 8.5%, that is, there are 24,408 more registered unemployed people than a year ago.

Even so, the fifth month of the year was synonymous with a new chain retreat. In other words, total registrations fell by 2.5% in May. This was the fourth consecutive decline in unemployment recorded, as shown in the graph below. Economists have therefore not given warning signs regarding the labour market.

But not all regions of the country are seeing the same trend: in the Azores, unemployment registered by the IEFP fell by 15.6% year-on-year and in Madeira by 19.6%.

The other regions registered worsening, with the Algarve standing out. In this area of ​​the country, the number of unemployed people registered with the IEFP increased by 13.6% in May compared to a year ago. Even so, the Algarve was the region of the country where unemployment fell the most (19.1%), highlights the IEFP.