Unemployment falls to 7,9% between May and July in Brazil

Unemployment fell 0,6 percentage points compared to the quarter between February and April, when it registered 8,5%.

The lowest level of unemployment for May-July in 2014 was 7%, according to the IBGE historical series.

The indicator also reduced by 1,2 percentage points compared to the same period in 2022, when it reached 9,1%, according to a statement from the institute.

The number of unemployed people reached 8,5 million people between May and July, 573.000 less than in the previous three months and 1,36 million less in one year.

“It was the lowest number of unemployed people since the moving quarter ended in June 2015”, indicated the institute.

However, the informality rate reached 39,1% of workers, or 38,9 million, which marked an increase from the 38,9% recorded in the previous quarter.

President Luiz Inácio Lula da Silva, who took power in January, promeyour boost economic growth to create more jobs.

The 7,9% index is the lowest quarterly index released since December 2022, that is, since the beginning of his government.

The left-wing government hopes to generate more than two million additional formal vacancies by the end of the year.

On the other hand, the average salary of workers was around 2.935 reais, stable in the quarter and with an increase of 5,1% in the year, compared to an accumulated price increase of 3,99% in this period.

Last week, Lula sanctioned a law that raises the minimum wage to 1.320 reais per month and increases the income tax exemption ceiling.

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