Portugal’s Unemployment Rate Rose to 15.8% in the Third Quarter

Portugal’s jobless rate rose to a euro-era record of 15.8 percent in the three months through September as the country’s economy contracted for an eighth quarter.

The unemployment rate increased from 15 percent in the second quarter and 12.4 percent in the third quarter of 2011, the Lisbon-based National Statistics Institute said today in an e-mailed statement.

The government predicts the unemployment rate will rise to 16.4 percent for all of 2013 from 15.5 percent this year.

To contact the reporter on this story: Joao Lima in Lisbon at jlima1@bloomberg.net

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net

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