Unemployment · Portugal
Portugal unemployment forecast
Unemployment (% of labor force, ILO modeled)
Model run: Sep 28, 2026 · TimesFM 2.5
12 months forecast · 2026
6.1%
Median forecast · p10-p90: 4.9% to 7.7%
24 months forecast · 2027
6.0%
Median forecast · p10-p90: 4.5% to 8.2%
36 months forecast · 2028
6.0%
Median forecast · p10-p90: 4.1% to 8.5%
Latest observed: 6.2% · 2025
Choose a horizon
The median and range update together.
History & forecast
White: observed history. Blue: forecast median. Shaded: p10-p90 model range.
Display-only line. World Bank data is annual: the forecasts are the yearly points marked on the chart. The monthly line between them is a straight-line interpolation for display, not a monthly forecast.
All values in % of labor force, ILO modeled
Model validation
| Horizon | Tests | Model errorModel | No-change errorNo change | Band coverageCoverage |
|---|---|---|---|---|
| 12 months | 5 | 0.40 pp | 0.28 pp | 100.0% |
| 24 months | 4 | 0.56 pp | 0.41 pp | 100.0% |
| 36 months | 3 | 0.44 pp | 0.20 pp | 100.0% |
A simple no-change forecast had lower or equal average error at every horizon in these tests. Rolling backtests of this model on the latest revised history; overlapping forecast errors are not independent. The p10-p90 band is a model range, not a calibrated guarantee. Methodology · Forecast audit
Evidence & context
Source data
Source & observed data
| Year | Value | Change |
|---|---|---|
| 2025 | 6.2% | −0.34 pp |
| 2024 | 6.5% | +0.00 pp |
| 2023 | 6.5% | +0.36 pp |
| 2022 | 6.1% | −0.57 pp |
| 2021 | 6.7% | −0.14 pp |
| 2020 | 6.9% | +0.43 pp |
| 2019 | 6.4% | −0.54 pp |
| 2018 | 7.0% | −1.91 pp |
| 2017 | 8.9% | −2.18 pp |
| 2016 | 11.1% | −1.35 pp |
Sources & limits
Source: World Bank, World Development Indicators · SL.UEM.TOTL.ZS. Methodology · Forecast audit
Historical context
Outside the model
What could change this forecast?
A small, dated reading list. TimesFM sees the data series, not these stories. This context is not a trading signal.
No recent item selected for this series. We would rather leave this quiet than fill it with a weak match.
Selected for relevance, not a claim of causation. Source dates stay visible. Original reporting remains with its publisher.