Brazil’s unemployment rate hit 14.6 percent in the March-May quarter

July 30, 2021, 4:16 pmBRASILIA, July 30 (Prensa Latina) Brazil’s unemployment rate remained stable at 14.6 percent in the quarter ending in May, down from the 14.7 percent recorded in the two earlier phases immediately, which concluded in March and April, the government said today.

The report of the Brazilian Institute of Geography and Statistics (IBGE) also indicated that unemployment jumped 1.7 points compared to the same period in 2020 (12.9 percent), when the South American giant began to face the Covid-19 epidemic so far. And it caused the deaths of about 555,000 and about 20 million injuries.

The Brazilian working population in the March-May period was 86.7 million people, an increase of 0.9 percent (equivalent to 809,000 people) compared to the previous moving quarter, and unchanged compared to the same period in 2020.

The occupation level (the percentage of employed and working age) was 48.9 percent, which is a constant figure for the previous quarter, and 0.6 percentage points compared to the same last year.

For its part, the rate of informal activity rose by 2.4 points in the annual comparison to 40 percent, which is equivalent to 34.7 million people working in the underground economy.

“Today we have 2.4 million more informal workers than last year,” IBGE analyst Adriana Beringuy admitted in a note.

Frustrated, called those who stopped looking for work, grew 5.5 percent compared to the percentage before the calendar and add up to 5.7 million people.

Despite the impact of Covid-19 on Latin America’s largest economy, financial markets have predicted that Brazil will recover from a 4.1% collapse in 2020 to expand by 5.29 in the current calendar.

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