FX.co ★ Brazil Jobless Rate Eases in May

Brazil’s unemployment rate declined to 5.6% in the rolling quarter ending in May 2026, down from 5.8% in the previous three-month period. The result was in line with market expectations and marked the lowest level since January.

The number of unemployed people stood at 6.1 million, virtually unchanged from the prior quarter, while total employment increased by 0.5%.

By sector, employment rose quarter-on-quarter in transportation and public administration. On an annual basis, job growth was driven primarily by agriculture, transportation, and public services, whereas domestic services remained the only sector to record a year-on-year decline.

The number of underemployed workers due to insufficient working hours fell by 5.7% in the quarter, and the contingent of discouraged workers decreased by 10.2%. The informality rate slipped to 37.3% of total employment from 37.5%.

Meanwhile, average real monthly earnings across all jobs were broadly stable at BRL 3,726.