Brazil Jobless Rate Rises to 7.6% in January


The unemployment rate in Brazil increased to 7.6 percent in January of 2016 compared to 6.9 percent reported in the previous month while markets were expecting the rate to climb to 8 percent. The number of unemployed increased sharply while employment fell. A year earlier, the unemployment rate was much lower at 5.3 percent.

The number of unemployed persons in six of Brazil’s major metropolitan areas increased to 1.88 million (1.73 million in December) while employment declined to 22.98 million from 23.21 million. Out of those who have a job, 14.9 percent was being paid the minimum wage (10.4 percent in December) while 1.7 percent said could work more hours (1.6 percent in the previous month).

The economically active population fell to 24.86 million from 24.95 million in December and the participation rate went down to 54.8 percent from 55.2 percent in the previous month. There were 20.49 million people detached from the labour force in January, compared to 20.28 million in December.

Average real monthly wages fell 1.3 percent from the previous month to BRL 2242,90. Year-on-year, wages shrank 7.4 percent.

A year earlier, the unemployment rate was much lower at 5.3 percent. 

Brazil Jobless Rate Rises to 7.6% in January


IBGE | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/25/2016 12:34:04 PM