Unemployment falls to 5.3%, lowest for quarter ending in August
Brazil’s unemployment rate for the quarter ending in August stood at 5.3 percent, the lowest ever recorded for that period since 2012, when the statistics bureau IBGE began its time series. In addition, the agency reported record highs in the number of employed workers, formal employment, total payroll, and social security contributions. The unemployment rate for the three-month period through…
Brazil's unemployment rate for the quarter ending in August dropped to 5.3%, the lowest in over a decade since 2012. This marks a decline from the previous quarter's figure and expectations set by market analysts. The increase in employment was primarily driven by growth in general manufacturing and construction sectors. Formal employment hit an all-time high with 39.5 million private-sector employees, while the unemployed population decreased by 4.6% to 5.8 million.
Informal workers comprised 37.5% of the employed population. The average monthly income per worker was BRL 3,777, with total payroll reaching a record high of BRL 385.6 billion. The number of social security contributors also reached a record high of 68.5 million.
Written by urgent.news from Agencia Brasil's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
