LatinNews Daily - 25 February 2022

In brief: Unemployment continues to fall in Brazil

* Brazil’s national statistics institute (Ibge) has released the latest figures for unemployment, which show that the unemployment rate stood at 11.1% in the fourth quarter of last year. This is down from 12.6% in Q3, and from 11.6% in the immediately preceding rolling quarter ending in November. It is 3.1 percentage points below the unemployment rate at the close of 2020. Over the course of 2021, Brazil’s unemployment rate averaged 13.2% – below the average unemployment rate in 2020, when it stood at 13.8%, but still the second highest figure since 2012. The Ibge estimates that the labour market is recovering from the effects of the coronavirus (Covid-19) pandemic, but still remains far from pre-pandemic levels. “It’s a year of recovery for some indicators, but it’s not been a year for overcoming the losses, because the pandemic is not over, and the ongoing impacts affect a variety of economic activities and the worker’s income,” the Ibge’s work and income coordinator, Adriana Beringuy, said.

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