Workers laid off from the insurance and banking sectors in Portugal have increased by 13% in the past year as branches are closed and staff numbers trimmed.
Social Security branches have seen bank and insurance company workers signing on in increasing numbers, making the financial services sector the largest growth area within the overall number of unemployed.
Data released by the Institute of Employment and Vocational Training points to a 13% rise in a year
This increase contrasts with an overall decrease in unemployment over the same period of 2012, with 5,770 fewer unemployed (-0.8 %), according to data from the Institute.
4,240 financial sector workers signed on in November of this year, 13.2% more than last year and 0.5% up from the previous month.
Even with this most significant rise, the financial sector represents but a small percentage of the total number of unemployed registered at job centers which stands at 692,000.
