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Montevideo, September 23rd 2018 - 12:45 UTC

Brazil's unemployment reaches 11.6% with an estimated 11.8 million jobless

Wednesday, August 31st 2016 - 04:56 UTC
Full article 11 comments
More than 1.7 million Brazilians have lost their jobs over the last 12 months, according to Labor Ministry data More than 1.7 million Brazilians have lost their jobs over the last 12 months, according to Labor Ministry data

Brazil's unemployment rate rose to 11.6% in the three months through July the statistics agency IBGE said on Tuesday. Brazil's jobless rate has risen sharply from 6.5% at the end of 2014 as the country entered its worst recession in decades.

 More than 1.7 million Brazilians have lost their jobs over the last 12 months, according to Labor Ministry data, taking the total unemployed population to an estimated 11.8 million.

Wages discounted for inflation fell 3.0% from the same months in 2015 to an average of 1,985.00 reais (US$615.08).

The fall from grace of what was considered a vibrant emerging market until a few years ago cost Brazil its investment grade rating and contributed to destabilizing President Dilma Rousseff's government.

The suspended president is on trial in the Senate on charges of doctoring budget numbers and could be removed from office on Wednesday when upper house takes a definitive vote.

Categories: Economy, Politics, Brazil.

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  • ChrisR

    All due to the efforts of The Liar Mantega and Dumbass Dilma herself talking up the 'lack of risk to investors' and the antics of the banking regulator hiking interest rates in a depression hoping to tame inflation.

    Yes, that will work, NOT.

    Aug 31st, 2016 - 06:02 pm 0
  • Jack Bauer

    To Dilma and the PT, Brazil's predicament is due to anything but her incompetence. It is China's fault, it is the fault of the Fed (US), it is the fault of the Japan tsunami in 2011 (?), it's the fault of the Martians......the funny thing is that Lula, shortly after the 2008 crisis, said that Brazil was immune to it, and that the effect would be no more than that of a small wave on the beach......Dilma sustained this version as well until 2014, when she had to create a favourable but false image of the economy , to get re-elected. The rest, we know.
    “Libertas quae sera tamen” !!!

    Aug 31st, 2016 - 11:29 pm 0
  • Marti Llazo

    Peru's unemployment the highest it has been in years. Chile's unemployment the highest it has been in years. Argentina's unemployment the highest it has been in years. Brazil's unemployment the highest it has been in years.

    But you know what? It's all Macri's fault !!

    Sep 01st, 2016 - 04:24 am 0
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