Brazil's unemployment rate dipped slightly in July, as expected, extending a slow and bumpy labor market recovery as pivotal presidential elections loom.
The number of people living in Brazil in a state of helplessness has reached record levels and has actually contributed to the reduction of the unemployment rate over the past 12 months. As the first quarter of 2018 came to an end, 4.6 million people found themselves in a state of helplessness – an increase of 511 thousand people over the course of one year.
Despite official announcements that Brazil's recession was turning into a mild recovery, the unemployment rate rose to 12.6% in the quarter ended in February, reaching the highest level since mid-2017 and surpassing market expectations of a 12.5% rate, according to the national statistics office.
US economy added 288,000 jobs in June, latest figures from the Bureau of Labor Statistics have shown. The unemployment rate dropped to 6.1%, its lowest level since September 2008.
Latin American and the Caribbean are forecasted to end 2013 with an urban unemployment rate of between 6.2% and 6.3%, slightly lower than 6.4% recorded in 2012, according to the latest estimates from the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO).