Portugal’s Jobless Rate Rises by Most Since Country Joined Euro

Portugal’s jobless rate rose to 14 percent in the three months through December, notching up the biggest increase since the country joined the euro, as the economy contracted for a fifth quarter.

The unemployment rate increased from 12.4 percent in the third quarter -- the sharpest gain since at least 1998 -- and from 11.1 percent in the fourth quarter of 2010, the Lisbon-based National Statistics Institute said today. The number of unemployed workers from industries including manufacturing, construction and energy rose 12.7 percent in the three months, while the increase from services was 12.4 percent.