The unemployment rate in Brazil increased to 12.9 percent in the three months to May 2020 from 11.6 percent in the December to February 2020 period, but slightly below market expectations of 13 percent. It was the highest jobless rate since the three months to April 2018, amid the coronavirus pandemic. The number of unemployed rose by 3 percent to 12.71 million while employment dropped by 8.3 percent to 85.94 million. The labor force participation rate declined by 4.8 percentage points to a fresh record low of 56.8 percent and the employment rate decreased by 5 percentage points to an all-time low of 49.5 percent.
Unemployment Rate in Brazil averaged 9.90 percent from 2012 until 2020, reaching an all time high of 13.70 percent in March of 2017 and a record low of 6.20 percent in December of 2013. This page provides the latest reported value for - Brazil Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brazil Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
Unemployment Rate in Brazil is expected to be 13.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Brazil to stand at 12.70 in 12 months time. In the long-term, the Brazil Unemployment Rate is projected to trend around 12.30 percent in 2021 and 11.70 percent in 2022, according to our econometric models.