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Unemployment in Brazil drops to 7-year low

RIO DE JANEIRO
2022-06-01 05:36

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RIO DE JANEIRO, May 31 (Xinhua) -- Unemployment in Brazil fell to 10.5 percent in the February to April three-month period, the lowest since 2015, the Brazilian Institute of Geography and Statistics (IBGE) said Tuesday.

The figure means that 11.3 million people are out of work, according to the IBGE report.

The unemployment rate decreased 0.7 percentage points compared to the previous three months (November to January), when the rate was 11.2 percent, and decreased 4.3 percentage points compared to the same period last year.

Those figures mean that the number of jobless decreased by 699,000 people compared to the previous three months, and by 3.8 million people compared to the same period last year, said the report.

The number of employed persons reached 96.5 million, the highest figure since records began being kept in 2012, up 1.1 percent (1.1 million people) from the previous three months and 10.3 percent (9 million people) from a year ago.

The February-April figure shows that "we are experiencing the continuation of the process of a shrinking unemployment rate, which has been happening since the three-month period ending in July 2021," the IBGE said.

The informality rate stood at 40.1 percent of the employed population in the three-month period, equivalent to 38.7 million people, according to the report.

Earnings in this period averaged 2,569 reals (about 545 U.S. dollars), which was stable compared to the previous three-month period, but 7.9 percent lower compared to the same period last year.
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