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Brazil’s unemployment falls in May and hits 13.3 percent

Numbers confirm Finance Minister predictions and are seen as good news for country's economy

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Brazil’s unemployment rate fell to 13.3 percent in May, according to the the Brazilian Institute of Geography and Statistics (IBGE). The total number of unemployed fell from 14. million to 13.8 million.

The unemployment rates reached a record high in the first trimester of 2017. As of April, 14.2 million Brazilians were out of work. Moreover, in the last year, an additional 2.8 million people lost their jobs. The numbers come from the Brazilian Institute of Geography and Statistics (IGBE).

In addition to an 8.7 percent increase from this same period last year, the 13.6 percent unemployment rate represented an all-time high. The unemployment rates last trimester (November to January) came in at 12.6 percent with 12.9 million Brazilians out of work. According to the IGBE, this is the 29th consecutive trimester that unemployment has increased.

For some, the new numbers show that Brazil is emerging from the worst recession in its history, after having registered a regression of GDP of 3.8 percent in 2015 and of 3.6 percent in 2016.