Brazil Jobless Rate Hits Record Low as November Formal Hiring Weakens

Overview

• IBGE reports unemployment at 5.2% for September–November, the lowest since the series began in 2012, with a record 103 million employed, 5.6 million seeking work, and average income at R$3,574.
• Employment gains include 26 million self-employed workers, reflecting growth in microentrepreneur registrations and app-based jobs, according to IBGE.
• Novo Caged shows a net creation of 85,864 formal jobs in November, down 19% year over year and the weakest November since the series began in 2020.
• Industry registered net layoffs of 27,135 jobs in November, while commerce added about 78,200 positions and services 75,100, the Labor Ministry data show.
• From January to November, Brazil added about 1.9 million formal jobs, with regional data showing Paraíba up 4,078 in November and the Vale do Paraíba/bragantina region creating 2,542, roughly 15% fewer than a year earlier.