Brazil Jobless Rate Below Estimates at 12.1%

The unemployment in Brazil fell to 12.1 percent in the three months to August of 2018 from 12.7 percent in the March - May 2018 period, below market consensus of 12.2 percent.

Compared with the three months ended in May 2018, the number of unemployed went down by 549 thousand to 12.707 million. Employment increased by 1,195 thousand to 92.081 million, with main job gains registered in public administration, defense, social security and education (+361 thousand); agriculture, livestock, forestry and fishing (+252 thousand); domestic services (+154 thousand) and industry (+112 thousand). In contrast, job cuts occured only in the transportation and storage sector (-5 thousand). Also, both the private sector (+316 thousand) and the public sector (+233 thousand) added jobs.

The number of people in the labour force rose by 666 thousand to 104.788 million and those detached from the labour force decreased by 25 thousand to 65.388 million.

Compared with the same period of 2017, the number of unemployed fell by 407 thousand from 13.113 million, while employment went up by 1020 thousand from 91.061 million.

The average real income was estimated at BRL 2,225 in the three months to August, almost unchanged from the three months to May but above BRL 2,196 a year earlier.

Brazil Jobless Rate Below Estimates at 12.1%

IBGE | Luisa Carvalho |
9/28/2018 12:27:02 PM