The Brazilian Institute of Geography and Statistics estimates that 14.3 million Brazilians were out of work in the three-month period ending in January 2021. The unemployment rate sits at 14.2 percent, stable from the previous three months, but the highest level recorded for a quarter ending in January.
“Meanwhile, the number of employed Brazilians rose by 2 percent to 86 million people,” says analyst Adriana Beringuy. “Most of this comes from the informal sector.”
As positive as they are, the figures do not reflect the effects of new restrictive measures enacted by state governments over the past month, as we explained in more detail in today’s Daily Briefing. They are expected to have a significant impact on the economy.
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