The number of unemployed registered in the Algarve employment centers in the 3rd quarter of 2012 increased 29% compared to the same period in 2011, revealed the Algarve Regional Development and Coordination Commission in its bulletin published this Wednesday.
The same data indicate that the unemployed from civil construction represent 25% of those looking for a new job, while the unemployment rate in the Algarve region reached 14,7%, which is the highest value recorded in the 3rd quarter, in the last twelve years .
The CCDRA emphasizes that “according to the indicators analyzed and similarly to what happened at the national level, the Algarve economy presented an unfavorable performance in relation to the same period of the previous year. The tourist activity, with an overall positive evolution, was the exception».
The Algarve Conjuntura bulletin also reveals that 264 new legal persons were created in the 3rd quarter of last year with headquarters in the region, while 221 were dissolved.
Although the balance is positive, there was a 9,6% drop in company births and a 35,6% increase in dissolutions, compared to the 3rd quarter of 2011, underlines the CCDRA.
On the other hand, the level of default on companies' bank commitments continues to rise, reaching "worrying proportions". In fact, overdue credit now represents almost 20% of the amount of loans granted to companies based in the Algarve.
“This value is much higher than the national average and represents an increase of almost 10 percentage points in relation to the end of September of the previous year”, adds the economic bulletin.
In transport, with the exception of the movement of passengers at the airport of Faro, there was a decrease in users in all modes of transport and a reduction in traffic flows in the three analyzed lanes and sections.
On the A22/Via do Infante, for example, average daily traffic decreased again «remarkably» (-42,2%) compared to the same quarter of 2011.
In counter-cycle to this entire situation of recession, there is tourism activity, which noted some recovery, namely by the increase in the number of guests and overnight stays, 2,4% and 3,5%, respectively, in year-on-year terms, and by the evolution the average stay, the average revenue per room and the total income of hotel establishments.
The latest issue of the Algarve Conjuntura Bulletin is available at www.ccdr-alg.pt
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