Brazil Jobless Rate at Nearly 7-Year High

Brazil's non-seasonally adjusted unemployment rate rose to 8.2 percent in February of 2016 from 7.6 percent in the previous month and above market forecast of 8.1 percent. It was the highest figure since May of 2009, as the number of unemployed increased sharply while employment fell. A year earlier, the unemployment rate was lower at 5.8 percent.

The number of unemployed persons in six of Brazil’s major metropolitan areas increased to 2.02 million (1.88 million in January) while employment declined to 22.56 million from 22.98 million. Out of those who have a job, 14.4 percent was being paid the minimum wage (14.9 percent in January) while 1.8 percent said could work more hours (1.7 percent in the previous month).

The economically active population fell to 24.57 million from 24.86 million in January and the participation rate went down to 54.2 percent from 54.8 percent in the previous month. There were 20.77 million people detached from the labour force in February, compared to 20.49 million in January.

Among regions, the highest unemployment rates were reported for Salvador (12.6 percent), Recife (10.4 percent) and São Paulo (9.3 percent), while Rio de Janeiro (5.2 percent) and Porto Alegre (6.4 percent) continued to record the lowest rates.

Average real monthly wages fell 1.5 percent from the previous month to BRL 2227,50. Year-on-year, wages shrank 7.5 percent.

A year earlier, the unemployment rate was much lower at 5.8 percent. 

Brazil Jobless Rate at Nearly 7-Year High

IBGE | Joana Ferreira |
3/23/2016 12:33:56 PM