Statistics Portugal released its labour market data on Wednesday. The unemployment rate declined to 11.9% in the second quarter from 13.7% in the first quarter, the lowest level since the fourth quarter of 2010.

The number of unemployed persons fell to 620,400 in the second quarter from 712,900 in the first quarter.

The youth jobless rate decreased to 29.8% in the second quarter from 34.4% in the previous quarter.

The number of persons employed rose to 4.58 million from 4.48 million. The participation rate was up to 58.6% from 58.5%.