Brazil Jobless Rate Lower than Expected at 12.4%

The unemployment rate in Brazil fell to 12.4 percent in the three months to June of 2018 from 13.1 percent in the first quarter of the year. It is the third straight decline in the jobless rate, beating market expectations of 12.6 percent.

Compared with the three months ended in March 2018, the number of unemployed went down by 723 thousand to 12.966 million. Employment increased by 657 thousand to 91.237 million, with most job gains occuring in public administration, defense, social security and education (+588 thousand); industry (+286 thousand); and transportation and storage while job losses occured mainly in information, communication, financial services and real estate (-161 thousand) and internal trade (-86 thousand). In addition, both the private sector (+197 thousand) and the public sector (+392 thousand) added jobs. 

The number of people in the labour force fell by 67 thousand to 104.203 million and those detached from the labour force rose by 774 thousand to 65.642 million. 

Compared with the same period of 2017, the number of unemployed fell by 520 thousand from 13.486 million, while employment went up by 1001 thousand from 90.236 million.

The average real income was estimated at BRL 2,198 in the three months to June, barely unchanged from BRL 2,192 in the three months to March but above BRL 2,174 a year earlier. 

Brazil Jobless Rate Lower than Expected at 12.4%

IBGE | Joana Taborda |
7/31/2018 12:19:57 PM