The unemployment rate in Brazil averaged 8% in the three months leading to June of 2023, firmly below market expectations of 8.2% and sharply under the 8.8% in the three-month period ending in March, approaching the near-eight-year low of 7.9% from December 2022 and underscoring tightness in Brazil’s labor market despite prolonged periods of high interest rates. The unemployed population fell by 785 thousand persons from the previous moving quarter to 8.6 million, while the employed population jumped by 1.1 million to 98.9 million. In the meantime, the labor force was broadly unchanged at 107.6 million. Lastly, real earnings were also stable at R$ 2,921 monthly. source: Instituto Brasileiro de Geografia e Estatística (IBGE)

Unemployment Rate in Brazil averaged 10.32 percent from 2012 until 2023, reaching an all time high of 14.70 percent in March of 2021 and a record low of 6.20 percent in December of 2013. This page provides the latest reported value for - Brazil Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brazil Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Unemployment Rate in Brazil is expected to be 8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Unemployment Rate is projected to trend around 9.50 percent in 2024 and 9.00 percent in 2025, according to our econometric models.

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Brazil Unemployment Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-06-30 12:00 PM May 8.3% 8.5% 8.3% 8.4%
2023-07-28 12:00 PM Jun 8% 8.3% 8.2% 8.2%
2023-08-31 12:00 PM Jul 8% 7.9% 8.1%


Related Last Previous Unit Reference
Unemployment Rate 8.00 8.30 percent Jun 2023
Employed Persons 98.91 98.40 Million Jun 2023
Unemployed Persons 8.65 8.95 Million Jun 2023
Labor Force Participation Rate 61.60 61.50 percent Jun 2023
Wages 2921.00 2909.00 BRL/Month Jun 2023
Wages in Manufacturing 2768.00 2753.00 BRL/Month Jun 2023
Employment Rate 56.60 56.40 percent Jun 2023
Employment Change -3.60 -2.72 percent Feb 2016

Brazil Unemployment Rate
In Brazil, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
8.00 8.30 14.70 6.20 2012 - 2023 percent Monthly
NSA

News Stream
Brazil Unemployment Rate Falls More than Expected
The unemployment rate in Brazil averaged 8% in the three months leading to June of 2023, firmly below market expectations of 8.2% and sharply under the 8.8% in the three-month period ending in March, approaching the near-eight-year low of 7.9% from December 2022 and underscoring tightness in Brazil’s labor market despite prolonged periods of high interest rates. The unemployed population fell by 785 thousand persons from the previous moving quarter to 8.6 million, while the employed population jumped by 1.1 million to 98.9 million. In the meantime, the labor force was broadly unchanged at 107.6 million. Lastly, real earnings were also stable at R$ 2,921 monthly.
2023-07-28
Brazil Unemployment Rate Drops as Expected
The unemployment rate in Brazil was at 8.3% in the three months leading to May of 2023, in line with market estimates, dropping from 8.6% in the three-month period ending in February and relatively close to the near-eight-year low of 7.9% from the three-month period ending December 2022. The unemployed population fell by 280 thousand people from the previous moving quarter to 98.4 million, while the employed population was broadly unchanged at 98.4 million people. In the meantime, the labor force was estimated at 107.3 million people for a participation rate of 56.4%, also unchanged from February. Finally, real earnings were broadly stable at R$ 2,901 monthly.
2023-06-30
Brazil Unemployment Rate Below Estimates
The unemployment rate in Brazil fell to 8.5% in the three months leading to April of 2023, picking up slightly from the 8.4% in the three months ending in January but considerably below market forecasts of 8.7% and the 10.5% from the corresponding period from the previous year, despite the elevated level of real interest rates in the Brazilian economy. The number of unemployed individuals was broadly unchanged compared to January at 9.1 million, while the employed population fell by 605 thousand to 98 million. At the same time, the labor force decreased by 504 thousand people to 107.1 million. Also, real earnings were broadly stable at BRL 2.891 per month over the previous quarter, 7.5% higher than that in the corresponding period of the prior year.
2023-05-31