Brazil Unemployment Rate at 5-Year High

The jobless rate in Brazil increased for the seventh straight month to 7.5 percent in July of 2015 from 6.9 percent in June, well above market expectations. It is the highest value since May of 2010 and the biggest for a July month since 2009.

The number of unemployed persons in six of Brazil’s major metropolitan areas increased to 1.844 million from 1.686 million in June. Meanwhile, employment fell by 6,000 to 22.755 million. Out of those who have a job, 11.7 percent is being paid the minimum wage while 2.1 percent said could work more hours (2.1 percent in June).

The economically active population increased to 24.600 million from 24.447 million in the previous month. Yet, there were 19.280 million people detached from the labour force in July, 22,000 less than in June.

Average real wages rose 0.3 percent to BRL 2223.87 compared with June and dropped 2.4 percent over a year earlier. 

In July of 2014, Brazil’s unemployment was recorded at 4.9 percent.

Brazil Unemployment Rate at 5-Year High

Joana Taborda |
8/20/2015 1:20:22 PM