Survey results released Monday show that 69% of Portuguese university graduates intended to move abroad after finishing their degrees.
The survey conducted by the Porto Academic Federation, representing students’ unions, revealed that students surveyed intend to leave Portugal for “better labor conditions.”
Students in the areas of engineering, technology, architecture and the arts are among those who have indicated they intend to move abroad after graduation.
Data released Tuesday by Statists of Portugal has shown that unemployment in Portugal has increased to a record high of 15% from 14.9%, in the second quarter, while youth unemployment was at 35.5 percent.
Portugal’s gross domestic product shrank 1.2 percent quarter-on-quarter, following a 0.1 percent decline in the first quarter- the 7th consecutive contraction.
As the labor market has been hit by the deepening economic recession and unemployment hits new lows, the number of Portuguese young professionals heading to former colonies of Brazil, Angola and Mozambique has increasing sharply.
The trend has accelerated after Portugal negotiated a 78 billion euro bailout with its European partners to meet its public finances commitments.
Portugal was the third euro zone country to seek a bailout after Greece and Ireland. Economists have been warning that, due to the worsening of the recession, Portugal may need additional international funds to meet the fiscal goals set in May by the European Union and the International Monetary Fund.
- Portuguese head to Mozambique to escape eurozone crisis
- Report: Portugal holds one of the biggest gaps between rich and poor – OECD
- Portugal: The most unequal among the European economies – OECD
Os Donos de Portugal (In Portuguese) Part I of 6
General Information on Portugal – Official Name: Portuguese Republic – Government Type: Parliamentary democracy – Population: 10,642,836 – Area: 92,391 sq. km., including the Azores and Madeira Islands; slightly smaller than Indiana – Languages: Portuguese – Literacy: Total population: 93.3%; Male: 95.5%; Female: 91.3% – Year of Independence: 1143