Unemployment drops to 12.7% in May

published: Jul 01, 2018 04:47 PM, last modified: Jul 01, 2018 04:47 PM

Joblessness retreated in comparison with the same quarter of last year

Brazil's unemployment rate stood at 12.7% between March and May, down 0.6 p.p. compared to the same period of last year. The data was released on Friday (29 June) by the Brazilian Institute of Geography and Statistics (IBGE).

The numbers also revealed a 3.9% decrease (from 13.8 million to 13.1 million) in the unemployment rate in relation to the March-May quarter. In practice, this means that more than 536,000 people have been repositioned in the job market and are once again earning income.

Also, according to the IBGE, the employment rate (i.e. the ratio of gainfully employed people as a share of the entire economically active population) stood at 53.9% compared to the same quarter of last year, representing stability in the indicator.