Brazil's unemployment falls to 6.8% in May-July period

Figure is lowest for a quarter ending in July since 2012, with employed population reaching a record 102M, says statistical agency

By Ovunc Kutlu

ISTANBUL (AA) - Brazil's unemployment rate fell to 6.8% in the May-July period, according to data released Friday by the Institute of Geography and Statistics (IBGE).

This marks the lowest unemployment rate for a quarter ending in July since 2012, the IBGE said in a statement.

The figure came in line with market estimates, down a massive 0.7 percentage points from 7.5% in the preceding quarter of February-April.

Annually, the latest figure represents a 1.1 percentage point decrease from the May-July period of last year when it was 7.9%.

The number of unemployed people stood at 7.4 million in the three-month period ending in July, a decrease of 783,000 from the same period in 2023, the IBGE reported.

The figure also marked the lowest number of unemployed people since the quarter ended in January 2015, according to the IBGE.

The employed population reached 102 million in the May-July period, setting a new record in the series that began in 2012, it added.

Kaynak: