Brazil's unemployment rate drops to 9.3% in April-June period

By Ovunc Kutlu

ANKARA (AA) - Brazil's unemployment rate fell to 9.3% during the April-June period, hitting its lowest level in seven years, according to data released on Friday by the country's Institute of Geography and Statistics (IBGE).

It marked the lowest unemployment rate for a quarter ending in June since 2015, IBGE said in a statement.

While the expectation was for the figure to come in at 9.4%, the unemployment saw a decline of 1.8 percentage points from 11.1% in the preceding three-month period from January-March.

On an annual basis, the unemployment rate saw a decline of 4.9 percentage points, compared to the same period in 2021 when it stood at 14.2%.

The unemployed population stood at 10.1 million, decreasing 15.6%, or 1.9 million, from the previous quarter. It fell 32%, or 4.8 million, from the same period last year.

Number of employed people climbed to 98.3 million – a record in the series since it started in 2012, said IBGE.

The number of employed people is an increase of 3.1%, or 3 million, from the previous quarter. It is also a gain of 9.9%, or 8.9 million, compared to the same period in 2021.