Brazil Sees Jobless Rate of 7.5 Percent in February-April, Marking 10-Year Low
11:00 - June 22, 2024

Brazil Sees Jobless Rate of 7.5 Percent in February-April, Marking 10-Year Low

TEHRAN (ANA)- Unemployment in Brazil stood at 7.5 percent of the economically active population between February and April, marking a 10-year low for the period, the Brazilian Institute of Geography and Statistics (IBGE) said.
News ID : 6271

The rate means 8.2 million people were out of work over the three months, the lowest rate for the period since 2014, when the jobless rate was 7.2 percent.

The data released by the IBGE shows stability compared to the previous three-month period (November-January), when unemployment was 7.6 percent, with a 1 percentage point decrease compared to the same period a year ago (8.5 percent).

"The labor market continues to show a reduction in the unemployment rate and an expansion in the number of workers," the IBGE said.

According to the agency, two seasonal elements explain the stability in unemployment in 2024: a drop in the loss of jobs in commerce and a return to hiring public sector workers in the areas of health and education, especially in primary education.

The underemployment rate -- people who could work more hours but for various reasons don't -- was 17.4 percent (20.1 million people), with no significant variation compared to the previous three months and a percentage point less than a year ago.

The informality rate was 38.7 percent of the employed population, or 39 million people, slightly lower than the 39 percent registered in the three months ending in January and the 38.9 percent registered in the same period of 2023.

Regarding income in Brazil, the average salary was 3,151 reals (about 600 U.S. dollars), 4.7 percent higher than in the same period of 2023.


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