Brazil's Jobless Rate Hits Record Low in March-May 2025
(MENAFN) Brazil's unemployment rate dropped to 6.2% in the March-May 2025 period, marking the lowest level for the same timeframe in over a decade, according to a report released by the Brazilian Institute of Geography and Statistics (IBGE) on Friday.
The latest data shows a 0.6 percentage point decrease from the December 2024-February 2025 quarter, where unemployment stood at 6.8%. Compared to the same period last year, the drop was even more significant, with a 0.9 percentage point reduction from 7.1%.
The total number of unemployed individuals fell to 6.8 million, down from 7.5 million in the previous quarter, reflecting an 8.6% decrease, or 644,000 fewer people without jobs. Year-on-year, the number of unemployed has decreased by 12.3%, or 955,000 people, compared to the 7.8 million recorded in 2024.
"The main reason for this drop in unemployment was the increase in the number of employed people, which grew by 1.2 million, in addition to a reduction in labor underutilization," stated IBGE analyst William Kratochwill.
The survey also revealed a historic milestone for Brazil's social security system, as the number of people contributing to it reached 68.3 million, the highest ever recorded. This figure includes individuals aged 14 and older employed during the reference week.
"This reflects the strength of the labor market, with more formally employed and self-employed workers properly registered, which contributes to the rise in pension system contributors," Kratochwill further emphasized.
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