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Portugal's unemployment rate rises in August

Xinhua, September 30, 2015 Adjust font size:

Portugal's unemployment rate rose to 12.4 percent in August, according to figures released by the Portuguese National Statistics Institute (INE) on Tuesday.

The unemployment rate rose from 12.3 percent in July, representing 4,800 more unemployed people.

"This trend happens following consecutive decreases observed since February 2015," the INE points out.

Portugal's youth unemployment rate was 31.8 percent, 0.8 percentage points higher than the previous month.

The country's main opposition Socialist Party accused Prime Minister Pedro Passes Coelho of misleading the Portuguese after the statistics were revealed.

"Unemployment, in the middle of summer, and when tourism is meant to propel the creation of seasonal work, is rising," said MP Eduard Cabrita.

According to the state budget for 2015, Portugal's unemployment rate will be 13.4 percent this year.

Portugal ended a painful bailout program last year when the economy expanded 0.9 percent, and the government, which faces elections on Oct. 4, expects the economy to grow 1.6 percent in 2015. Endit