FX.co ★ Brazil Jobless Rate Falls To 7.1%

The unemployment rate in Brazil decreased over the three-month period ending in May, according to recent data released by the Brazilian Institute of Geography and Statistics (IBGE) on Friday.

The jobless rate declined to 7.1 percent during the March-May timeframe, down from 7.5 percent recorded in the February-April period.

This marks the lowest unemployment rate for a quarter ending in May since 2015, when the rate stood at 6.9 percent.

In comparison, the unemployment rate for the corresponding period last year was 8.3 percent.

The number of unemployed individuals dropped to 7.8 million, reflecting a decrease of 8.8 percent, or 751,000 people, from the previous quarter.