Brazil Jobless Rate Above Estimates at 12.7%

The unemployment rate in Brazil rose to 12.7 percent in the three months to May of 2018, compared to 12.6 percent in the December - February 2018 period and market consensus of 12.6 percent.

Compared with the three months ending in February 2018, the number of unemployed rose by 0.9 percent or 115 thousand to 13.235 million in the three months to May of 2018. Also, employment fell by 0.2 percent or 204 thousand to 90.887 million, with jobs being cut mainly in: trade (-265 thousand); information and communication, finance, real estate and professional and administrative activities (-209 thousand); domestic services (-188 thousand) and in the agricultural sector (-112 thousand). In addition, jobs were shed in the private sector with contracts or formal work (-351 thousand) while employment went up in the private sector without contracts or informal work (+307 thousand) and in the public sector (+290 thousand).

The number of people in the labour force fell 0.1 percent or 90 thousand to 104.122 million and the number of persons detached from the labour force rose by 0.7 percent or 475 thousand to 65.413 million.

Compared with the same period of 2017, the number of unemployed fell by 3.9 percent or 536 thousand from 13.771 million, while employment grew by 1.3 percent or 1199 thousand from 89.687 million.

The average real income was estimated at BRL 2,187 in the three months to May, below BRL 2,200 in the three months to February but above BRL 2,167 in the three months to May of 2017 period.

Brazil Jobless Rate Above Estimates at 12.7%

IBGE | Luisa Carvalho |
6/29/2018 12:27:46 PM