Brazil's Unemployment Hits 10-Year Low At 6.2 Pct

Rio de Janeiro: Brazil's unemployment rate fell to 6.2 percent in the March-May period, the lowest level for the same period in the past decade, the Brazilian Institute of Geography and Statistics (IBGE) reported Friday.

According to the IBGE, the rate declined by 0.6 percentage points from the previous rolling quarter (December 2024-February 2025), when it stood at 6.8 percent, and by 0.9 percentage points compared to the same period last year (7.1 percent).

During the period, 6.8 million people were unemployed in Brazil, down from 7.5 million in the previous quarter -- a decrease of 8.6 percent, or 644,000 people.

Compared to the same period in 2024, when 7.8 million were unemployed, the drop was 12.3 percent, equivalent to 955,000 fewer people.

"The main reason for this drop in unemployment was the increase in the number of employed people, which grew by 1.2 million, in addition to a reduction in labor underutilization," said IBGE analyst William Kratochwill.

The number of people contributing to Brazil's social security system also reached a historic high, with 68.3 million aged 14 or older employed during the survey's reference week.

"This reflects the strength of the labor market, with more formally employed and self-employed workers properly registered, which contributes to the rise in pension system contributors," Kratochwill added.

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