'Brazil logs 13.5% unemployment in 2020'

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IANS | 27 Feb, 2021
Brazil recorded 13.5 per cent unemployment in 2020, equivalent to 13.4 million people and the highest level since 2012, the state-run Brazilian Institute of Geography and Statistics (IBGE) reported.

Unemployment in the South American country grew 6.7 per cent, or 840,000 people, last year compared to 2019, when the indicator was 11.9 per cent, according to the IBGE.

During the quarter ending in December 2020, unemployment was 13.9 per cent, down from 14.6 per cent in the previous quarter, but higher than 11 per cent for the same period in 2019, Xinhua reported.

The annual average of the employed population in 2020 was the lowest since 2012 at 86.1 million, as well as 7.9 per cent lower compared to the 2019 average.

The IBGE also reported that the average informal employment rate went down from 41.1 per cent in 2019 to 38.7 per cent in 2020.

In terms of income, Brazil averaged 2,543 reais (about $462) last year, 4.7 per cent higher than the previous year.

Brazil's unemployment rose in 2020 as a result of efforts to contain the Covid-19 pandemic such as quarantine measures and the closing of businesses. However, unemployment declined in the last months of 2020, coinciding with a slight recovery in economic activities, although this did not prevent it from closing at the highest level in eight years.