Brazil recently reported a drop in its unemployment rate to 7.5% for the quarter ending in November.
The Brazilian stats agency IBGE shared these findings. They are from the Continuous National Household Sample Survey. The full report is available online.
This quarter is the third in a row where joblessness has fallen. The rate decreased by 0.2 percentage points from the previous quarter.
Now, 8.2 million people in Brazil do not have jobs. This number is 6.2% lower than last year at the same time.
The survey also found that 100.5 million people are working. This is an increase of 0.9% or 853,000 more workers than three months ago.
It’s the highest employment rate since the survey began in 2012. Many new jobs are in the private sector with official contracts.
This sector added 515,000 jobs. The amount of informal work did not change much. It makes up 39.2% of all jobs, a slight increase from before.
Workers’ average earnings went up by 2.3% to R$3,034 this quarter.
The biggest raises went to self-employed people with registered businesses and workers with formal contracts in the private sector.
Background
This employment trend in Brazil reflects broader global shifts. As economies recover, many countries report similar changes. Brazil’s progress sets it apart in Latin America, where job rates vary widely.
Other nations look to Brazil as a model. Its strategies might guide similar economies. Yet, each country’s unique challenges demand tailored solutions.
Globally, stable employment boosts trade and stability. As Brazil’s job market grows, it may strengthen its role on the world stage.
This could lead to more influence in international decisions and partnerships.
Brazil’s growth also offers insights for other developing countries aiming to reduce unemployment and improve living standards.
This progress demonstrates the impact of effective policies and economic resilience, serving as a benchmark for regional peers and a case study for global observers.