Brazil Jobless Rate Matches Estimates at 11.7%

The unemployment rate in Brazil decreased further to 11.7 percent in the three months to October of 2018 from 12.3 percent in the May-July period, matching market expectations. It is the seventh straight decline in jobless rate and the sharpest since December, mainly due to informal work.

Compared with the three months ended in July of 2018, the number of unemployed went down by 517 thousand to 12.351 million. Employment rose by 1240 thousand to 92.901 million, with most job gains occuring in other services (+240 thousand); trade, repair of motor vehicles and motorcycles (+215 thousand); information and communication activities, finance, real estate, professional and administrative activities (+214 thousand); public administration, defense, social security and education (+155 thousand) and construction (+125 thousand). Also, both the private sector (+476 thousand), namely informal work (+534 thousand) and the public sector (+57 thousand) created jobs. In contrast, a decrease was seen in formal work (-58 thousand).

The number of people in the labour force increased by 724 thousand to 105.252 million and those detached from the labour force decreased by 383 thousand to 65.108 million.

Compared with the same period of 2017, the number of unemployed fell by 389 thousand from 12.740 million, while employment grew by 1356 thousand from 91.545 million.

The average real income was estimated at BRL 2,230 in the three months to October, above BRL 2,227 in the three months to July and also above BRL 2,221 a year ago.

Brazil Jobless Rate Matches Estimates at 11.7%

IBGE | Luisa Carvalho |
11/29/2018 12:38:40 PM