News Karnataka
Monday, September 26 2022
South America

Brasilia: Brazil unemployment at lowest level since Dec 2015

lowest level since Dec 2015
Photo Credit : IANS

Brasilia: Brazil’s unemployment rate stood at 9.1 per cent from May to July, the lowest level since December 2015, when it registered the same, the state-run Institute of Geography and Statistics (IBGE) announced.

According to the IBGE report, some 9.9 million people were out of work in July, the lowest number since the three-month period ending in January 2016.

The number of people with jobs reached a record 98.7 million from May to July, an increase of 8 million people year-on-year, reports Xinhua news agency.

The labour force participation rate in the South American country was 57 per cent, 1.1 percentage points higher than in the previous three months and 4.1 percentage points higher year on year.

The underemployment rate stood at 20.9 per cent, equivalent to 24.3 million people, the lowest level since June 2016.

Informal employment in the period was 39.8 per cent, equivalent to 39.3 million people, and lower than the 40.1 per cent of the previous three months and the 40.2 per cent compared to the same period of 2021.

In addition, income grew by 2.9 per cent on average during the period compared to the previous three months, reaching 2,693 reals ($522), 2.9 per cent lower than May-July 2021.

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