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LatinNews Daily - 28 October 2021

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In brief: Unemployment down in Brazil, but average income down also

* Brazil’s national statistics institute (Ibge) has released the latest figures on unemployment, which show that the unemployment rate in the rolling quarter ending in August has fallen to 13.2%. This is down 1.4 percentage points on the unemployment rate recorded in the rolling quarter ending in May, and compares with 14.4% unemployment over the same period a year earlier. In absolute terms, 13.7m Brazilians remain unemployed in the June-August rolling quarter, a figure largely unchanged compared with a year earlier, when the workforce was smaller due to the impact of the coronavirus (Covid-19) pandemic. The Ibge has noted that employment has grown in both the formal and informal sectors, with the employment rate now standing at 50.9% and 90.2m people currently in work (of whom 37m work in the informal sector). However, this positive evolution is tempered by a decrease in income; according to the Ibge, workers’ average real income in the quarter ending in August has fallen by 4.3% compared with the March-May rolling quarter, and by 10.2% compared with the June-August 2020 period.