Economy & Business - September 2022

BRAZIL | Unemployment shows signs of improving. Brazil’s unemployment rate fell to 9.1% in the rolling quarter ending in July, the national statistics institute (IBGE) reported on 31 August. This represents a decrease of 1.4 percentage points on the preceding rolling quarter (February-April), and a drop from 13.7% a year earlier. It is the lowest unemployment rate since the rolling quarter ending in December 2015. “We can observe the continuation of a trend of growth in occupation and significant drop in the unemployment rate,” Adriana Beringuy, IBGE research coordinator, noted. Some 9.9m people are unemployed in Brazil, the lowest number since January 2016. Meanwhile, the average monthly income – which had been falling even as unemployment was improving – increased for the first time in two years, growing 2.9% compared with the preceding rolling quarter (although still 2.9% lower than the average income during the same period in 2021). “The last time there was significant growth [in the average income] was exactly two years ago, in the quarter ending in July 2020,” Beringuy said.

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