WASHINGTON — Portugal’s economy has struggled for some time, and recent government statistics indicated that these economic doldrums could be over sooner rather than later.
Reuters reported that the country’s jobless rate fell for the second consecutive quarter this year and were lower than at this point last year.
Unemployment fell to 15.6% from 16.4% and from last year’s 15.8% unemployment rate. One of the main contributions to the decreasing unemployment rate was how the country cut its public spending to help right its financial standing. Portugal was one of the European Union countries bailed out when the recession nearly crippled the entire eurozone economy.
Still, no matter the rosy picture, Portugal’s unemployment rate remained the highest in the continent and some were unsure whether the Portuguese economy could ever fully recover.