Brazil’s unemployment rate reaches its lowest level in decade
(MENAFN) Brazil’s unemployment rate has reached its lowest level in ten years for the March to May period, dropping to 6.2%, according to recent data from national statistics authorities.
The figure marks a 0.6 percentage point decrease compared to the previous three-month period (December 2024 to February 2025), when unemployment stood at 6.8%. It also reflects a 0.9 point decline from the same time frame in 2024, when the rate was 7.1%.
During this latest period, the number of unemployed individuals dropped to 6.8 million, down by 644,000 from the previous quarter — an 8.6% decrease. Compared to the same stretch last year, the figure is down by 955,000 people, or 12.3%.
"The main reason for this drop in unemployment was the increase in the number of employed people, which grew by 1.2 million, in addition to a reduction in labor underutilization," said IBGE analyst William Kratochwill.
The survey also found that the number of individuals contributing to the country’s social security system hit a record high. A total of 68.3 million Brazilians aged 14 or older were employed during the survey’s reference week.
"This reflects the strength of the labor market, with more formally employed and self-employed workers properly registered, which contributes to the rise in pension system contributors," Kratochwill added.
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