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  HOME | Brazil (Click here for more)

Brazil Jobless Rate Climbs to 8.3%

RIO DE JANEIRO Ė Brazilís unemployment rate rose to 8.3 percent in the second quarter, the Brazilian Institute for Geography and Statistics, or IBGE, said Tuesday.

The ranks of the jobless expanded to 8.4 million people during the April-June period.

While the number of people with jobs held steady at 92.2 million, IBGE said.

The figures are based on data from the National Sample of Households Study, known as PNAD, a new, more rigorous measure of unemployment built on recommendations from the International Labor Organization.

The IBGE continues to release statistics derived from the traditional method, which reflects employment conditions in the countryís six largest metropolitan areas: Sao Paulo, Rio de Janeiro, Belo Horizonte, Salvador, Recife and Porto Alegre.

As measured by the traditional method, unemployment was 7.5 percent in July.

PNAD will become Brazilís benchmark measure of unemployment by the end of this year.

Growth in unemployment coincides with austerity measures adopted by the government of President Dilma Rousseff after 2014 ended with the first primary budget deficit in 13 years.

The austerity program, which has yet to be fully approved by Congress, features spending cuts and tax hikes, including an increase in payroll levies.

Brazilís economy is expected to shrink by 2 percent this year, while inflation could reach 9 percent.

 

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