Home ›› 02 Oct 2022 ›› World Biz
Brazilian unemployment continued a downward trend, falling to 8.9 percent or 9.7 million people in the June-to-August quarter, according to official data released Friday, two days before presidential elections.
It was the lowest unemployment level in Latin America's biggest economy since end-2015, according to the IBGE statistics agency. The rate improved by 0.9 percentage points from the March-to-May period, when it was 9.8 percent.
The figures reflect a solid economic recovery for the country of 214 million following the collapse brought on by the coronavirus pandemic, with unemployment peaking at 14.9 percent in the first quarter of 2021.
Measured year-on-year, unemployment fell by 4.2 percentage points for the June-August quarter.
The figures could be a boon for far-right President Jair Bolsonaro, who claims credit for the recovery as he squares off against leftist former president Luiz Inacio Lula da Silva in a first election round Sunday.
The economy and consumer purchasing power are a major concern for Brazilian voters.