Brazil Unemployment Rate Hits Lowest Since 2012
Summary
Brazil’s unemployment rate has fallen to 5.3 percent, the lowest level since records began in 2012, boosting President Luiz Inacio Lula da Silva’s re-election campaign ahead of Sunday’s presidential vote. Lula is set to face far-right senator Flavio Bolsonaro in a closely watched contest, with a possible runoff on October 25.
Key Points
- Brazil’s unemployment rate fell to 5.3 percent in the three months to August, a record low since 2012.
- The decline has been driven by job creation in industry and construction, while informal employment stayed at 37.5 percent.
- President Luiz Inacio Lula da Silva has gained a boost ahead of the first round of presidential elections on Sunday.
- Lula is expected to face Flavio Bolsonaro in a potentially tight runoff race on October 25.
