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  HOME | Brazil (Click here for more)

Brazilian Unemployment Climbs to 9%

SAO PAULO – Unemployment in Brazil rose to 9 percent in the August-October rolling quarter, up from 8.6 percent during the previous three months, the Brazilian Institute for Geography and Statistics, or IBGE, reported Friday.

The jobless rate was 6.6 percent in August-October 2014.

The number of people with jobs remained stable in August-October 2015, at 92.3 million.

The unemployment figure, which translates to roughly 9 million people out of work, is based on data from the National Sample of Households Study, known as PNAD, a new, more rigorous measure of joblessness built on recommendations from the International Labor Organization.

The IBGE numbers show an erosion of Brazil’s labor market over the past year as a result of the worsening economic situation.

Latin America’s largest economy shrank by an estimated 3.70 percent last year, the worst performance in 25 years, and is expected to contract an additional 3 percent in 2016, which would mark the first time Brazil has suffered two consecutive years of negative growth since 1948.

 

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