Brazil Unemployment Stable at 6.6%, Formal Jobs Hit Record High

Brazil's Unemployment Rate Holds Steady at 6.6% in April Brazil's unemployment rate remained unchanged at 6.6% for the three-month period ending in April, according to data released Thursday by the Brazilian Institute of Geography and Statistics (IBGE). This represents a continuation of the trend from the previous quarter. While the unemployment rate remained stable, the number of unemployed individuals stood at 7.3 million, a figure that has remained relatively consistent in recent months. However, this represents a significant decrease of 11.5% compared to the same period last year, when 8.2 million Brazilians were unemployed. This positive trend is further underscored by the record high of 39.6 million individuals holding formal jobs in the private sector, representing a 0.8% increase compared to the previous quarter and a 3.8% increase compared to the same period in 2024. "The stability in the unemployment rate, coupled with the record number of formal jobs, suggests a positive trajectory for the Brazilian economy," stated an IBGE spokesperson. This positive development offers a glimmer of hope for the future of the Brazilian job market.