Brazil Jobless Rate Falls To 9.3% In 2022, Lowest In 7 Years

(RTTNews) - Brazil's unemployment rate decreased during the year 2022 to reach its lowest level in seven years, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The jobless rate dropped to 9.3 percent in 2022 from 13.2 percent in 2021.

The annual result is the lowest since 2015, showing that the labor market not only confirms the recovery trend after the impact of the COVID-19 pandemic, but also exceeds the pre-pandemic level, the IBGE said.

In the fourth quarter of 2022, the jobless rate fell further to 7.9 percent from 8.7 percent in the third quarter. 

In the corresponding period last year, the unemployment rate was 11.1 percent.

The number of unemployed people in the December quarter was 8.6 million, which was 0.88 million lower than the level in the September quarter.