Unemployment in Brazil fell to 9.3% in 2022, the lowest level since 2015

The vacancy rate in 2022 was 9.3%. The annual result is the lowest since 2015, according to data from the Brazilian Institute of Geography and Statistics (IBGE) released on Tuesday.

Brazil ended the fourth quarter of 2022 with a decline in the unemployment rate, consolidating a recovery trend in the labor market after the impact of the pandemic.

The Pnad Continuous Survey showed that the unemployment rate reached 7.9% in the three months to December, down from 8.7% in the third quarter and 8.1% in the quarter to November.

According to IBGE, this shows that the labor market has not only confirmed the recovery trend after the impact of Covid-19 but has surpassed the pre-pandemic level.

“The year 2021 was a transition year, leaving the worst moment of the historical series under the impact of the pandemic and the isolation that occurred in 2020. Whereas 2022 marks the consolidation of the recovery process,” said Adriana Beringuy, coordinator of Work and Income at IBGE.

“In two years, the unemployment rate in the labor market fell 4.5 p.p.,” she calculates.

Despite the rehabilitation compared to recent years, the vacancy rate is still above the lowest level of the series, presented in 2014 (6.9%).

With information from MSN