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In May 2011, following the deterioration of Portugal’s financial situation, an agreement was signed between the Portuguese government and the “troika” (the European Central Bank, the European Commission and the International Monetary Fund), establishing a programme of austerity measures and reforms as a counterpart for obtaining financial assistance.The process of economic and social change the country has subsequently experienced has been marked by a significant deterioration of its main economic and social indicators. The Portuguese labour market has clearly changed throughout the process.This paper outlines the main changes the Portuguese labour market has suffered. Particular attention is paid to the gender dimension (and biases) of the crisis.