The unemployment rate in Brazil rose to a record 14.7 percent in the first quarter of 2021 from 13.9 percent in the quarter ending December of 2020, in line with market expectations. During the January-March period, Brazil became the global epicenter of the pandemic due to a resurgence in COVID-19 infections, which led to the reimposition of lockdowns across the country and the cancellation of the world famous Carnival festival. The number of unemployed persons went up by 880 thousand to an all-time high of 14.81 million while those employed shrank by 529 thousand to 85.90 million. The labour force participation rate was unchanged at 56.8 percent and the employment rate edged down by 0.5 percentage points to 48.4 percent. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
Unemployment Rate in Brazil averaged 10.29 percent from 2012 until 2021, reaching an all time high of 14.70 percent in March of 2021 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 June of 2021.
Unemployment Rate in Brazil is expected to be 14.50 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 13.40 in 12 months time. In the long-term, the Brazil Unemployment Rate is projected to trend around 12.40 percent in 2022 and 10.50 percent in 2023, according to our econometric models.