In July, "the unemployment rate stood at 5.7%, the same value as in April and June 2026, but lower than in July 2025 (0.1 p.p.)", the National Institute of Statistics (INE) said.

The statistical institute added that, in July, the employed population reached 5,347 thousand people, 1.6% (82,900 people) higher than a year earlier, but 0.1% (7,100 people) lower than in June of this year.

In the month under review, the unemployment rate for women reached 6.4%, above 4.9% among men, the lowest level since February 1998.

Among young people, the unemployment rate was 20.1%, compared to 4.6% among adults.

The active population rose 1.4% year-on-year in July to 5,667,300 people, despite a 0.2% month-on-month decrease.

On the other hand, the inactive population fell by 1.3% year-on-year and increased by 0.7% month-on-month, totalling 2,419,500 people.

The labour underutilisation rate was estimated at 9.5%, "a value higher than the previous month (0.2 p.p.), but lower than three months earlier (0.2 p.p.) and the same month of the previous year (0.6 p.p.)".

The inactivity rate – which defines the ratio between the inactive population of working age and the working-age population – fell to 29.6%, reaching its lowest value since February 1998.