Brazil Unemployment Rate Up to 4-Month High

In February of 2014, Brazilian jobless rate rose for the second straight month to 5.1 percent, up from 4.8 percent in the previous month. Despite the rise, it is the lowest-ever rate for any February month and compares with 5.6 percent a year earlier.

The number of unemployed people increased 6.9 percent over January to 1.2 million, but fell 8.3 percent over a year earlier. 

Employment remained stable at 23.1 million people and the number of workers with a formal contract in the private sector was marginally unchanged at 11.8 million.

Average real wages at R$ 2000.53 increased 0.8 percent on a monthly basis and 3.1 percent over the same month of the previous year. Compared with January, the construction sector recorded the highest wage increase (5.1 percent), while wages in health, education and social services fell the most by 0.6 percent.

Regionally, São Salvador recorded the highest jobless rate (9 percent from 8 percent in January), followed by Recife (6.4 percent from 7.4 percent a month earlier) and São Paulo (5.5 percent versus 5 percent in January). In Rio de Janeiro, unemployment rose to 3.9 percent.

Brazil Unemployment Rate Up to 4-Month High

Joana Taborda |
3/27/2014 12:18:11 PM