Unemployment in Brazil continues to fall, hitting record lows, according to a report released Wednesday by the Brazilian Institute of Geography and Statistics (IBGE).
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.
Brazil's jobless rate rose to a record for the fifth straight month in March with more than 14 million workers unemployed, government data showed on Friday, illustrating the hardships caused by the country's deepest recession ever.
Brazil's unemployment rate rose to 11.3% in the second quarter, statistics agency IBGE said, hitting a four-year high as Latin America's largest economy struggles with a crippling recession. In a sign that Brazil's labor market faces even tougher times, economists surveyed expect the unemployment rate will not start falling until 2018.
Brazil's jobless rate remained stuck at a record 11.2% at the end of May, the government statistics office reported. The rate for March through May was unchanged from the previous quarter, with 11.4 million people officially out of work, the Brazilian Institute of Geography and Statistics (IBGE) said. A year ago, the jobless rate was 8.1%.
Brazil's central bank kept interest rates on hold on Wednesday as widely expected, opting to avoid inflicting more harm on an economy mired in its worst recession in decades despite a surge in inflation. In a split vote, the bank's monetary policy committee, Copom, kept its benchmark Selic rate at 14.25% for the fifth straight time.
Unemployment in Brazil was 9% during the September-November rolling quarter, unchanged from the August-October period, the Brazilian Institute for Geography and Statistics reported.
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.
Job losses in Brazil accelerated in October to the fastest pace so far this year as the country's political and economic crisis continues to worsen. Brazil's economy lost a net 169,131 payroll jobs in October, the Labor Ministry reported, up from 95,602 layoffs in September.
Unemployment in recession deep Brazil climbed to 8.7% of active population in the quarter ending last August, the government said Thursday. The indicator shows a steep hike from the 6.9% recorded in August 2014, according to statistics of the National Study of Households (PNAD), published by the state Brazilian Institute for Geography and Statistics (IBGE).