Portugal / The crisis has destroyed one in seven jobs says ILO

Portugal’s economic crisis has destroyed one in seven jobs, with most of them lost since its 2011 emergency bailout programme kicked in, the International Labour Organization said on Monday.

“The labour market has not improved since the launch of the financial assistance programme” in 2011, which was agreed with international creditors to protect Portugal from financial collapse, the UN-backed labour relations agency (ILO) wrote in a report.

“In fact, the trend of rising unemployment intensified over the past two years — showing some signs of abating only recently.”

It said that since the world financial crisis erupted in 2008, Portugal had suffered the third biggest deterioration of the labour market in the eurozone, after Greece and Spain.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Crisis destroys one in seven Portuguese jobs | GlobalPost.