Brazil Jobless Rate at Near 1-Year High in March
The unemployment rate in Brazil increased to 13.1 percent in the three months to March of 2018, above 12.6 percent in the December to February 2018 period and market estimates of 12.9 percent. It was the third straight increase in jobless rate and the highest since the three months to May 2017 period.
4/27/2018 3:18:38 PM
Compared to the last quarter of 2017, the number of unemployed climbed by 11.2 percent or 1379 thousand to 13.689 million in the three months to March 2018. Meantime, employment fell by 1.7 percent or 1528 thousand to 90.581 million, with job cuts reported mostly in trade (-396 thousand); construction (-389 thousand); manufacturing (-327 thousand) and public administration (-267 thousand). Also, jobs continued to be shed in the private sector without contracts or informal work (-402 thousand); in the private sector with contracts (-408 thousand) and in the public sector (-255 thousand).
The number of people in the labour force decreased by 0.1 percent or 149 thousand to 104.270 million and the number of persons detached from the labour force went up by 0.4 percent or 233 thousand to 64.868 million.
Compared with the same period of the previous year, the number of unemployed fell by 3.4 percent or 487 thousand from 14.176 million, while employment grew by 1.8 percent or 1634 thousand from 88.947 million.
The average real income was estimated at BRL 2,169 in the three months to March, lower than BRL 2,173 in the three months to December and the same as in the three months to March of 2017 period.