Unemployment rate hits new record high: 14.7 percent

According to the Brazilian Institute of Geography and Statistics (IBGE), Brazil’s unemployment rate sat at 14.7 percent in the quarter ending in April. That is 0.4 percentage points more than the three-month period ending in January. 

The rise represents an extra 489,000 unemployed people in Brazil, adding to a total of 14.8 million — the highest on record.

“The scenario was one of stability of the employed population (85.9 million) and growth of the unemployed population, with more pressure on the labor market,” says IBGE analyst Adriana Beringuy, noting that less than half of the country’s working-age population is currently employed.

Brazil’s underemployed workers amount to 33.3 million — also the highest on record.

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