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Brazil and Southern Cone - June 2019

Economic Highlights

Unemployment remains stubbornly high: On 31 May, Brazil’s national statistics institute (Ibge) posted its latest figures for unemployment, which show that the national unemployment rate stood at 12.5% for the February-April 2019 rolling quarter. This was a 0.4 percentage point decrease on the unemployment rate over the same period in 2018 (12.9%), but an increase of 0.5 percentage points from the previous rolling quarter of November 2018-February 2019 (12.0%). This increase in unemployment is equivalent to a further 552,000 people finding themselves out of work.

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