News Karnataka
Tuesday, December 06 2022
South America

Brasilia: Unemployment in Brazil falls to lowest level in 7 years

Brazil
Photo Credit : IANS

Brasilia: Unemployment in Brazil fell to 8.9 per cent in the quarter ending in August, the lowest level in seven years, the state-run Institute of Geography and Statistics (IBGE) said.

From June through August, the unemployment rate in the South American country dropped 0.9 percentage points compared to the March-to-May period, and decreased by 4.2 percentage points year on year, reports Xinhua news agency.

According to the IBGE, the drop of the unemployment rate means that the number of unemployed people in August were 937,000 fewer than that in May.

August marked the sixth consecutive month to see a drop in unemployment, suggesting a recovery in the job market following the pandemic in Brazil.

Meanwhile, the employed population in the country reached a record 99 million, up 7.9 per cent year on year, according to IBGE.

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