Brazil Jobless Rate Below Forecasts at 12.9%

The unemployment rate in Brazil increased to 12.9 percent in the three months to April of 2018, compared to 12.2 percent in the November-January 2018 period and market consensus of 13 percent.

Compared with the three months ending in January 2018, the number of unemployed rose by 5.7 percent or 723 thousand to 13.413 million in the three months to April 2018. At the same time, employment fell by 1.1 percent or 969 thousand to 90.733 million, with jobs cuts registered primarily in trade (-439 thousand); construction (-186 thousand); manufacturing (-130 thousand) and agriculture (-127 thousand). In addition, jobs were shed in the private sector without contracts or informal work (-82 thousand) and in the private sector with contracts (-567 thousand) while employment rose in the public sector  (+68 thousand).

The number of people in the labour force went down by 0.2 percent or 245 thousand to 104.146 million and the number of persons detached from the labour force rose by 0.7 percent or 427 thousand to 65.176 million.

Compared with the same period of the previous year, the number of unemployed fell by 4.5 percent or 635 thousand from 14.048 million, while employment grew by 1.7 percent or 1495 thousand from 89.238 million.

The average real income was estimated at BRL 2,182 in the three months to April, below BRL 2,185 in the three months to January but above BRL 2,165 in the three months to April of 2017 period.

Brazil Jobless Rate Below Forecasts at 12.9%

IBGE | Luisa Carvalho |
5/29/2018 1:32:52 PM