The Portuguese economy started to destroy jobs, but the national situation is clearly being saved by the creation of jobs taken by very young people, a segment of the population that tends to be more subject to insecurity and the lowest wages in the country.
In November, national employment almost stagnated, growing only 0.3% compared to the same month of 2021, the weakest value since the period of highest mortality from the pandemic (early 2021), according to calculations by Dinheiro Vivo (DV) on based on monthly preliminary estimates on the Portuguese labor market, released yesterday by the National Institute of Statistics (INE).
And, as said, it would have been worse if it hadn’t been for the very young.
The employment of people aged 25 and over started to fall (-0.6%, the worst record since January 2021), but the face of the labor market was finally saved by a record increase in the number of jobs held by very young people (15 to 24 years). The volume of work in this age group increased by 16.8%, the highest figure in this long series of INE from 1999, so to speak.
Source: DN
