LatinNews Daily - 01 March 2023

In brief: Brazil’s unemployment rate down in Q4 2022

* Brazil’s national statistics institute (Ibge) has released the latest unemployment figures, putting the unemployment level at 7.9% in the rolling quarter of October-December 2022, with 8.6m people registered as unemployed. This marks a decrease of 0.8 percentage points from the unemployment rate in the preceding quarter of July-September (8.7%), and a drop of 3.2 percentage points compared to the same period in 2021 (11.1%). Eight of the country’s 27 federative units saw a drop in unemployment from the previous quarter, with the greatest decreases registered in the states of Mato Grosso do Sul (-1.8 percentage points), Pernambuco (-1.6), and Bahia (-1.6). However, in Q4 2022 Pernambuco and Bahia were still among the states with the highest unemployment levels in the country, with 13.5% and 12.3% respectively. The national annual unemployment rate across the whole of 2022 was 9.3%, the lowest annual rate since 2015. The 2022 figure was also down 3.9 percentage points from the 2021 figure (13.2%). Ibge research coordinator Adriana Beringuy described 2021 as a year of transition, with Brazil “coming out of the worst moment in the historical series, from the impact of the pandemic and the isolation that took place in 2020.”    

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