LatinNews Daily - 02 April 2024

*Brazil’s national statistics institute (Ibge) has released its latest unemployment figures, showing a jobless rate of 7.8% for the December 2023-February 2024 rolling quarter. This corresponds to 8.5m unemployed people. The latest quarterly figure marks an increase from the unemployment rate of 7.5% registered for the September-November rolling quarter. In a press release, the Ibge suggested that this slight quarterly rise in unemployment was not unexpected, as it follows seasonal trends. According to the Ibge, employment in the agricultural sector tends to drop around December-February. Major agricultural products, such as maize and coffee, are usually not harvested during this period, lowering the demand for temporary farm workers. The Ibge also noted the seasonality of employment figures in public administration, healthcare, and education, as temporary contracts in these sectors are often renewed after the end of holidays in December-February.