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BackBrazil’s unemployment rate fell to 5.3% from June to August, a new low for the same period in 2012
Brazil’s unemployment rate fell to 5.3% from June to August, a new low for the same period in 2012
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中国新闻网1 hour agoBusiness1 min readChinaView original

Brazil’s unemployment rate fell to 5.3% from June to August, a new low for the same period in 2012

Brazilunemployment rateemployed population

Quick Look

  • Data released by the Brazilian Institute of Geography and Statistics show that Brazil’s unemployment rate dropped to 5.3% from June to August this year, lower than the previous period and the same period last year, and the lowest level in the same period since statistics were collected in 2012.
  • As of August, the employed population reached 103.5 million, with an average monthly income of 3,777 reais.
  • There were a net increase of 165,800 formal jobs in August.

AI-generated summary

Why It Matters

The Brazilian Institute of Geography and Statistics publishes the unemployment rate data for the past three months every month, with three consecutive months as the statistical cycle.

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China News Service, Sao Paulo, September 29. The Brazilian Institute of Geography and Statistics (IBGE) announced data on the 29th that from June to August this year, Brazil's unemployment rate dropped to 5.3%, lower than the 5.6% from May to July, and lower than the 5.6% in the same period last year. It was the lowest level in the same period since relevant statistics were collected in 2012, reflecting the resilience of the Brazilian labor market.

The Brazilian Institute of Geography and Statistics publishes the unemployment rate data for the past three months once a month, that is, three consecutive months are a statistical cycle.

Data show that as of August, Brazil’s employed population reached 103.5 million. The average monthly income of workers is 3,777 reais (1 US dollar is equivalent to 5.3 reais); the total wage income of workers reached 385.6 billion reais. The number of workers participating in social security contributions reached 68.5 million, accounting for 66.2% of the employed population.

The Brazilian Ministry of Labor and Employment disclosed that day that Brazil had a net increase of 165,800 formal jobs in August this year. Among them, 110,300 new jobs were added in the service industry, followed by construction, industry, commerce, and agriculture and animal husbandry.

Statistics also show that from January to August this year, Brazil added a total of 1.134 million new formal jobs, a decrease of 25.2% from 1.517 million in the same period last year.

Many experts interviewed by Brazilian media pointed out that some economic indicators in Brazil are currently showing signs of slowing down, but the labor market remains resilient. The market is paying attention to the impact of strong employment and income performance on consumption, inflation and the central bank's subsequent interest rate policies. (over)

Open Questions

  • Can the unemployment rate decline continue until the end of the year?
  • Are there differences in employment conditions in different regions?
  • What is the quality and stability of new jobs?

Related Topics

Brazil
OrganizationsBrazilian Institute of Geography and StatisticsBrazilian Ministry of Labor and Employment
Placessao paulo
Topicsunemployment rateemployed populationlabor incomeFormal employmentService industryconstruction industry
This article was originally published by 中国新闻网.

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