Brazil unemployment rate hits record high 14.6%, as people return to look for work

By Jamie McGeever BRASILIA (Reuters) - The number of registered Brazilians out of work and the national unemployment rate rose to the highest on record, official figures showed on Friday, as the easing of COVID-19 lockdown measures encouraged people to look for work again.

Reuters November 28, 2020 00:07:28 IST
Brazil unemployment rate hits record high 14.6%, as people return to look for work

Brazil unemployment rate hits record high 146 as people return to look for work

By Jamie McGeever

BRASILIA (Reuters) - The number of registered Brazilians out of work and the national unemployment rate rose to the highest on record, official figures showed on Friday, as the easing of COVID-19 lockdown measures encouraged people to look for work again.

The unemployment rate in the three months through September rose to 14.6% from 14.4% in the three months to August, while the number of official unemployed rose to 14.1 million from 13.8 million, statistics agency IBGE said.

Although the unemployment rate was lower than the 14.9% economists had expected, it is the highest since IBGE's series began in 2012. At the end of last year it was 11.0%.

Brazil unemployment rate https://fingfx.thomsonreuters.com/gfx/mkt/yxmpjewnqvr/PARO.png

"In April and May, social distancing measures influenced people's decision not to look for work. With the relaxation of these measures, we have started to see more of these people looking for a job," IBGE research manager Adriana Beringuy said.

The number of Brazilians out of the workforce completely and the underemployment rate remained near record highs, while the number of people with jobs and the share of the working population in work remained near record lows, IBGE said.

The workforce of 96.5 million people was 1 million higher than the three months through August, but still 9.8 million or 9.2% smaller than the same period last year, IBGE said.

The number of people in work was 82.5 million, down 12.1%, or 11.3 million people, from the same period last year.

Only 47.1% of working-age people were working in the three months to September, IBGE said, down 7.7 percentage points from the same period last year.

Some 78.6 million people were out of the workforce completely, down slightly from the three months to August but up 21.2%, or 13.7 million people, from the same period last year, IBGE said.

The number of Brazilians officially out of work rose to 14.1 million, and the number of underemployed was 33.2 million, IBGE said. The underemployment rate was 30.3%.

Figures on Thursday showed that a record net 395,000 formal jobs were created in October. The dominant services sector, which had been hardest hit by social distancing measures, led the charge with a net 157,000 new jobs.

(Reporting by Jamie McGeever; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Germany's Spahn mulls running as chancellor for Merkel's party - Bild
World

Germany's Spahn mulls running as chancellor for Merkel's party - Bild

BERLIN (Reuters) - German Health Minister Jens Spahn is considering putting himself forward to stand as chancellor for Angela Merkel's conservative bloc in a September federal election, top-selling Bild daily reported on Friday. Merkel has said she will not run for a fifth term in the election and her Christian Democrats (CDU) are to pick a new leader next week. The winner would be a favourite to stand as chancellor but someone else could stand, not least because the CDU's Bavarian sister party has to back the candidate.

Australia's Brisbane to enter three-day lockdown after UK COVID-19 variant case
World

Australia's Brisbane to enter three-day lockdown after UK COVID-19 variant case

SYDNEY (Reuters) - Australia's Queensland state will enforce a three-day lockdown in Brisbane, the state capital, from Friday evening after a quarantine hotel worker tested positive for the more contagious variant of COVID-19 that has emerged in Britain. "We know that the level of infection is very high in this particular variant. We have to act differently to what we had before

Sinovac vaccine 78% effective in Brazil trial, experts call for more details
World

Sinovac vaccine 78% effective in Brazil trial, experts call for more details

By Eduardo Simões SAO PAULO (Reuters) - A coronavirus vaccine developed by China's Sinovac Biotech was 78% effective in a late-stage Brazilian trial with no severe COVID-19 cases, researchers said on Thursday, although a lack of data details stirred calls for more transparency. The trial results, closely watched by developing countries counting on the vaccine to begin mass inoculations to help end a raging pandemic, was below preliminary findings from Turkish researchers and lacked detailed data provided on U.S. and European vaccines.