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Portugal's unemployment rate in December lowest since exit of bailout program

Xinhua, February 2, 2016 Adjust font size:

Portugal's unemployment in December dropped to 11.8 percent, the lowest since the debt-laden country exited a bailout program in May 2014.

The number of the unemployed in December was 604,000, down 3.6 percent from the previous month, according to figures released by the National Institute of Statistics on Monday.

There were 626,800 unemployed people in November and the unemployment rate was 12.2 percent, said the institute.

Portugal exited the 78-billion-euro bailout program it signed in May 2011 with its international creditors after three years of implementation of harsh austerity measures. Its economy has been on track of slow growth with unemployment rate dropping steadily in the past few years. Endi