Brazil Unemployment Rate Hits A New Record High Of 13.7%

The jobless rate in Brazil rose to a new record high of 13.7 percent in the quarter ended March 2017 from 12 percent in the three months to December 2016 and in line with market expectations. The number of unemployed jumped by 14.9 percent to 14.2 million people while employment fell by 1.5 percent to 88.9 million, bringing the employment rate to a record low of 53.1 percent.

Compared with the October-December 2016 period, the number of unemployed persons jumped 14.9 percent, or by 1.8 million, to 14.2 million, reaching the highest level on record. Employment fell by 1.5 percent, or by 1.3 million, to 88.9 million, with job losses in public administration, defense, social security, education, human health and social services (-3.1 percent, or 484 thousand), trade (-2.5 percent, or -438 thousand), construction (-3.4 percent, or -242 thousand) and agriculture (-2.7 percent, or -240 thousand). By contrast, there were increases in accomomdation and food (3.4 percent, or 165 thousand) and information, communication and financial activities, real estate, professional and administrative (2.1 percent, or 201 thousand).

People attached to the labour force, that is, either employed or unemployed but actively seeking for job rose by 0.5 percent to 103.1 million. Those detached from the labour force were steady at 64.4 million. 

Compared with the same period a year earlier, the number of unemployed people surged 27.8 percent while employment dropped 1.9 percent.

The average real income (BRL 2,110) in the quarter ended March 2017 remained stable compared to the previous quarter (BRL 2,064) and also in relation to the same quarter of 2016 (BRL 2,059).

Brazil Unemployment Rate Hits A New Record High Of 13.7%

IBGE | Joana Ferreira |
4/28/2017 12:21:27 PM