Unemployment rate in Brazil drops to 6.9 percent in April-June
(MENAFN) On Wednesday, Brazil's Institute of Geography and Statistics (IBGE) reported that the country's unemployment rate fell to 6.9 percent for the April-June period. This represents the lowest unemployment rate for a quarter ending in June since 2014, when it also stood at 6.9 percent. The latest figure is consistent with market expectations and reflects a decrease from the 7.9 percent rate recorded in the January-March period of this year.
Comparing year-over-year data, the current unemployment rate marks a notable improvement, down 1.1 percentage points from the 8 percent rate seen in the April-June period of the previous year. This significant reduction highlights a positive shift in the labor market over the past year, reflecting improved economic conditions.
The number of unemployed individuals decreased to 7.5 million during the three-month period ending in June, down by 1.1 million from the same period in 2023. This reduction indicates a substantial decrease in unemployment figures, further underscoring the strengthening labor market.
Additionally, the employed population reached a record high of 101.8 million during the April-June period, surpassing previous records since the IBGE began tracking this data in 2012. This new record demonstrates a robust increase in employment, contributing to the overall positive labor market trends in Brazil.
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