Brazil Unemployment Rate Down to 5%

In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.

Unemployment dropped 11.6 percent over a year earlier to 1.2 million people, but showed no significant changes over February. Employment increased marginally over the previous month to 22.9 million. 

Average real wages at R$ 2026.6 increased 3 percent on a yearly basis, but were almost unchanged over February. Compared with the previous month, finance, insurance and real estate activities recorded the highest wage increase (2.6 percent), while in wholesale and retail trade wages fell the most by 2.2 percent. Year-on-year, earnings increased in all main sectors except for mining, water, electricity and gas production (-0.5 percent).

Regionally, São Salvador recorded the highest jobless rate (9.2 percent from 9 percent in February), followed by São Paulo (5.7 percent from 5.5 percent a month earlier) and Recife (5.5 percent versus 6.4 percent in January). In Rio de Janeiro, unemployment fell to 3.5 percent from 3.9 percent a month earlier. 

Brazil Unemployment Rate Down to 5%

Joana Taborda |
4/17/2014 1:27:26 PM