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Portugal’s Unemployment Rate Increases to Euro-Era Record 15%

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Aug. 14 (Bloomberg) -- Portugal’s jobless rate rose to a euro-era record 15 percent in the three months through June as the country’s economy contracted for a seventh quarter.

The unemployment rate increased from 14.9 percent in the first three months and 12.1 percent in the second quarter of 2011, the Lisbon-based National Statistics Institute said today in an e-mailed statement.

The government forecasts unemployment will increase to 15.5 percent for all of 2012 and to 15.9 percent in 2013.

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

To contact the editor responsible for this story: Tim Quinson at tquinson@bloomberg.net