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Brazil
06.11.23 12:56
Economics

Brazil's Unemployment Rate falls

In the third quarter of this year, Brazil's unemployment rate dropped to 7.7%

The unemployment rate in Brazil saw a significant decline in the third quarter of this year, dropping to 7.7%. This is reported by Toda Palavra, a partner of TV BRICS.

This marks an improvement from the previous quarter's rate of 8% and a notable decrease from the 8.7% rate recorded during the same period last year.

It is important to note that this is the lowest unemployment rate seen since the end of 2015, when it stood at 6.6%. During this quarter, the number of unemployed individuals in Brazil decreased by 3.8% compared to the previous quarter, reaching a total of 8.3 million.

This impressive decline also marked a 12.1% decrease compared to the same period last year.

On the other hand, the employed population experienced growth, reaching a total of 99.8 million. This represents a 0.9% increase from the previous quarter and a 0.6% rise from the same period last year.

Moreover, the average real income of workers in Brazil amounted to 2,982 reais. It increased by 1.7% over the quarter and 4.2% over the year, primarily driven by wage increases in the industry sector, which saw growth of 5.3% and 6.3% respectively.

Photo: IStock

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