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Unemployment rate stands at 5.3% in July, lowest level in the historical series for the month

Brazil's unemployment rate stood at 5.3% in the moving quarter ended in July, the lowest historical level for the month since the beginning of the IBGE series in 2012, a decline from the 5.8% in the previous quarter and below the 5.6% from a year earlier. The result came in line with market forecasts. The reduction was driven by the creation of 899,000 jobs over the one-year period, considering the variation in the employed population, covering both formal and informal employment, with record numbers of people employed.

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