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Unemployment in Brazil during third quarter climbs to 9%

Saturday, January 16th 2016 - 10:54 UTC
Full article 6 comments
The unemployment figure translates to roughly 9 million people out of work, is based on data from the National Sample of Households Study, known as PNAD The unemployment figure translates to roughly 9 million people out of work, is based on data from the National Sample of Households Study, known as PNAD

Unemployment in Brazil rose to 9% in the August-October rolling quarter, up from 8.6% during the previous three months, the Brazilian Institute for Geography and Statistics, or IBGE, reported Friday. The jobless rate was 6.6% in August-October 2014.

 The number of people with jobs remained stable in August-October 2015, at 92.3 million.

The unemployment figure, which translates to roughly 9 million people out of work, is based on data from the National Sample of Households Study, known as PNAD, a new, more rigorous measure of joblessness built on recommendations from the International Labor Organization.

The IBGE numbers show an erosion of Brazil's labor market over the past year as a result of the worsening economic situation.

Latin America's largest economy shrank by an estimated 3.7% last year, the worst performance in 25 years, and is expected to contract an additional 3% in 2016, which would mark the first time Brazil has suffered two consecutive years of negative growth since 1948.

Categories: Economy, Politics, Brazil.

Top Comments

Disclaimer & comment rules
  • ChrisR

    The pain hasn't really started yet.

    Wait until the fighting begins in the streets of every major Town.

    Jan 16th, 2016 - 12:41 pm 0
  • yankeeboy

    Gov't prognasticators always seem to look at lagging indicators instead of forward indicators and they try to do a projection.
    They said 2016 will be better than 2015.
    Do you think they figured in U$10 oil?
    The massive layoffs from PBR and its affiliates and suppliers
    The massive layoffs from the auto companies
    The growing inflation
    The growing spending for the unemployed

    all of them nope

    This is just the begining, the model is bad, throwing more money at something that doesn't work isn't going to help.
    China turned out to be an anchor around their neck.

    Jan 16th, 2016 - 02:08 pm 0
  • Don Alberto

    This should make Brasilero really happy - Brasil full speed ahead ... or sum'tin'

    Jan 16th, 2016 - 02:37 pm 0
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