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Market Update: Brazil Jobless Rate at Record High in Q1
The unemployment rate in Brazil rose to a record 14.7 percent in the first quarter of 2021 from 13.9 percent in the quarter ending December of 2020, in line with market expectations. The number of unemployed persons went up by 880 thousand to an all-time high of 14.81 million while those employed shrank by 529 thousand to 85.90 million. The labour force participation rate was unchanged at 56.8 percent and the employment rate edged down by 0.5 percentage points to 48.4 percent. source: Instituto Brasileiro de Geografia e Estatística (IBGE) [/s2If]
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