Brazil’s unemployment rate fell to 5.6% in the three months ending in July, the lowest on record, according to the Brazilian Institute of Geography and Statistics (IBGE).
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“It is a good moment for the labor market, with job growth and lower underutilization of the workforce,” said William Kratochwill, an IBGE analyst.
The number of jobless Brazilians dropped to 6.1 million, the smallest since late 2013. Meanwhile, the working population reached a record 102.4 million, with formal employment also at an all-time high of 39.1 million.
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