The unemployment rate in Brazil dropped to 8.1% in the three months to November of 2022 from 8.9% in the three months leading to August, in line with market forecasts. It marks the lowest level since 2015, as the unemployed population fell by approximately 953 thousand individuals since the moving quarter ending in August to 8.74 million, the lowest level since the quarter that ended in July 2015. The employed population rose by 0.7 million from the prior moving quarter to a fresh record-high of 99.7 million individuals. Workers with a formal contract in the private sector increased by 2.3% in the quarter up to November over the immediately previous three months, reaching 36.8 million. “Since the second half of 2021, we have seen growth in this category. It is an important record, since it not only indicates the increase in the number of workers, but also signals a reduction in the informality of the employed population”., explained the research coordinator, Adriana Beringuy. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
Unemployment Rate in Brazil averaged 10.43 percent from 2012 until 2022, reaching an all time high of 14.70 percent in March of 2021 and a record low of 6.20 percent in December of 2013. This page provides the latest reported value for - Brazil Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brazil Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Unemployment Rate in Brazil is expected to be 8.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Unemployment Rate is projected to trend around 9.50 percent in 2024 and 9.00 percent in 2025, according to our econometric models.