Brazil’s 2023 unemployment 7.8%, lowest since 2014

Brazil’s average unemployment rate in 2023 stood at 7.8 percent. The annual result is the lowest since 2014, when it stood at seven percent. The figures were released on Wednesday (Jan. 31) by the statistics bureau IBGE.

Last year’s average was 1.8 percentage points lower than 2022, at 9.6 percent. The outcome confirms the trend shown in 2022 of a recovery in the labor market after the impact of the COVID-19 pandemic.

The average employed population was reported to have reached a record high, rising to 100.7 million people in 2023, up 3.8 percent from 2022. On the other hand, a 17.6 percent reduction was seen in the average number of jobless people between 2022 and 2023, reaching 8.5 million.

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