LatinNews Daily - 21 March 2022

In brief: Brazil’s unemployment remains high at start of year

* Brazil’s national statistics institute (Ibge) has released the latest figures for unemployment, which show that the unemployment rate stood at 11.2% in the rolling quarter ending in February. This is 3.3 percentage points below the November 2020-January 2021 unemployment rate, and down from 12.1% in the August-October 2021 rolling quarter – however it represents a small uptick from the immediately preceding rolling quarter, ending in December 2021, when the national unemployment rate stood at 11.1%. Most indicators – such as the size of the employed population, the number of workers in the formal sector, and the under-employment rate – all showed signs of improvement in year-on-year on terms. A notable exception was workers’ real-term wages, which on average are 9.7 percentage-points lower in the rolling quarter ending in January 2022 than they were a year earlier.

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