Economics
Brazil Unemployment Sticks Near Record High as Economy Reopens
- Jobless rate slipped to 14.6% in three months ending in May
- Labor market remains marked by high degree of informality
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Brazil’s unemployment remained near an all-time high despite widening coronavirus immunization campaigns and the reopening of Latin America’s largest economy.
The jobless rate slipped to 14.6% in the three months ending in May, above the 14.5% median estimate from analysts surveyed by Bloomberg, the national statistics institute reported on Friday. Unemployment had stood at a record 14.7% since March, when businesses closed their doors and local governments placed restrictions on movement to fight a surge in coronavirus infections. The data series goes back to 2012.