Brazil Unemployment Rate Rises To Fresh Record High

The jobless rate in Brazil rose to a new record high of 13.2 percent in the quarter ended February 2017 from 11.9 percent in the three months to November 2016 and in line with market expectations. The number of unemployed jumped by 11.7 percent to 13.55 million people while employment fell by 1 percent to 89.35 million, bringing the employment rate to a record low of 53.4 percent.

Compared with the September-November 2016 period, the number of unemployed persons jumped 11.7 percent, or by 1,415 thousand, to 13.55 million, reaching the highest level on record. Employment fell by 1 percent to 89.35 million, with job losses in public administration, defense, social security, education, human health and social services (-4.4 percent, or -702 thousand) and industry (-2 percent, or -225 thousand). By contrast, there were increases in housing and food (3.5 percent, or 169 thousand) and information, communication and financial activities, real estate, professional and administrative (2.2 percent, or 215 thousand).

People attached to the labour force, that is, either employed or unemployed but actively seeking for job rose by 0.5 percent or by 550 thousand to 102.89 million. Those detached from the labour force were steady at 64.6 million. The labour force participation rate went up to 61.4 percent from 61.3 percent.

Compared with the same period a year earlier, the number of unemployed people surged 30.6 percent while employment dropped 2 percent.

The average real income (BRL 2,068) in the quarter ended February 2017 remained stable compared to the previous quarter (BRL 2,049) and also in relation to the same quarter of 2016 (BRL 2,037).

Brazil Unemployment Rate Rises To Fresh Record High

IBGE | Joana Ferreira |
3/31/2017 1:01:48 PM