Number of unemployed in February in the Algarve was the 4th lowest in the decade

Confidence in a good peak season increased recruitment

In the last decade, only in 2018, 2019 and 2020, the number of unemployed registered with the Employment Centers of the Algarve, in February, was lower than that registered in the second month of this year, according to data released by the Institute of Employment and Vocational Training ( IEFP).

According to IEFP data, at the end of February, there were 23.148 registered unemployed, a figure that is slightly lower than that recorded in 2017, at the same time.

If the comparison is made with last year, when there were 33.459 registered, there is a reduction of more than 10 thousand people looking for a job in the Algarve, in the second month of the year.

The year-on-year drop in unemployment in February (-30,8%) is also the biggest since the beginning of the pandemic.

In the month of February, the recruitment of manpower for the high season usually begins. This decrease in the number of subscribers already in February shows that there is confidence among entrepreneurs in a good tourist year in the Algarve.

João Fernandes, president of the Algarve Tourism Region, shares this confidence, despite the uncertainty brought about by the war, since, as advanced in the Lisbon Tourism Exchange, the Algarve has «very high reserves in its portfolio» for Easter and summer.

“We already have two certain values ​​that we can guarantee even in crisis: notoriety and the fact that we don't have to lower prices for the first time in crisis”, he said.

The demand for the Algarve, with regard to accommodation, reached, in February, values ​​similar to the pre-pandemic period, which is also a factor of confidence for hoteliers, responsible for recruiting an important part of those enrolled in the Employment Center.

According to the IEFP, there were, at the end of February, 1276 job offers in the Algarve, an increase of 62,1% in relation to the month of January and of 379,7% in relation to the same month of last year, when a second confinement in the country.

It remains to be seen whether the climate of confidence in the tourism sector will be immune to the economic consequences caused by the conflict in Ukraine, a reality that will only begin to reflect in the coming months.