Home Employment Unemployment Drops to 11.9 Percent in September

Unemployment Drops to 11.9 Percent in September

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Unemployment in Brazil fell to 11.9 percent in the period from July to September, against 12.1 percent in June-August, but still reaches 12.5 million people, on Tuesday official sources.

The reduction, the sixth consecutive, coincides with the average expectation of 26 analysts consulted by the newspaper Valor.

The drop was mainly due to the growth of informal work, according to the Brazilian Institute of Geography and Statistics (IBGE), which reports on 70,000 households.

“We can highlight the fall in unemployment, from 12.4% in the April-June quarter to 11.9 percente, from July to September. There is a withdrawal of people from the unemployment line, a fall of almost half a million people the biggest problem of this advance is that this occurred in employment without a portfolio and on its own account. It is a favorable result, but aimed at informality and increase of the underemployment,” explains IBGE’s Work and Income Coordinator, Cimar Azeredo.

Another 4.8 million Brazilians are among the “discouraged” category, who gave up looking for work in the face of labor market difficulties, a number similar to that of June-August, but with an increase of 530 thousand over the same period of 2017. This quota represents 4.2 percent of the total workforce.

Brazilians elected right-wing President Jair Bolsonaro on Sunday to campaign against corruption, crime and the economic crisis that plunged the main Latin American power into two years of recession and two others of weak growth.

Bolsonaro announced that after taking office on January 1, he will appoint Finance Minister Paulo Guedes, a liberal economist who plans to launch a privatization plan and a reform of the tax and social security system to clear public accounts.