MercoPress. South Atlantic News Agency
Unemployment in Brazil during third quarter climbs to 9%
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.
Top Comments
Disclaimer & comment rules-
-
-
Read all commentsThe pain hasn't really started yet.
Jan 16th, 2016 - 12:41 pm 0Wait until the fighting begins in the streets of every major Town.
Gov't prognasticators always seem to look at lagging indicators instead of forward indicators and they try to do a projection.
Jan 16th, 2016 - 02:08 pm 0They 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.
This should make Brasilero really happy - Brasil full speed ahead ... or sum'tin'
Jan 16th, 2016 - 02:37 pm 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!