FX.co ★ Brazil Jobless Rate Falls to Lowest in 9 Months

Brazil’s unemployment rate edged down to 5.2% in the rolling quarter ended September 2026, from 5.3% in the previous period, in line with market expectations and marking the lowest level since December 2025. The number of unemployed declined 4% quarter-on-quarter to 5.6 million. The employed population increased by 0.6% to 103.6 million, lifting the employment rate to 59%. The labor force participation rate was unchanged at 62.2%. The number of private-sector employees with formal contracts, excluding domestic workers, was broadly stable at 39.4 million, the highest level on record. Meanwhile, the composite underutilization rate remained at 13%, with 4.3 million people working fewer hours than they would like and 2.5 million discouraged from seeking employment. Average real monthly earnings inched up to R$3,790.