Friday, April 26, 2024
HomeWorldUnemployment in Brazil Falls to Lowest Level in 7 Years

Unemployment in Brazil Falls to Lowest Level in 7 Years

Unemployment in Brazil fell to 8.9 percent 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 in the unemployment rate means that the number of unemployed people in August was 937,000 fewer than that in May.

ALSO READ: US Congress Approves Stopgap Funding Bill Ahead of Govt Shutdown Deadline

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 percent year on year, according to IBGE.

 

 

 

 

 

 

 

(This story has been sourced from a third-party syndicated feed, agencies. Raavi Media accepts no responsibility or liability for the dependability, trustworthiness, reliability, and data of the text. Raavi Media managementythisnews.com reserves the sole right to alter, delete or remove (without notice) the content at its absolute discretion for any reason whatsoever.)