BRAZIL – The unemployment rate in Brazil during the last quarter of 2017 was 11.8 percent, equating to 12.3 million people out of work, the official Brazilian Institute of Geography and Statistics (IBGE) said Wednesday.
The fourth-quarter rate was down 0.6 percent from 12.4 percent in the July-September period.
The median jobless rate for 2017 as a whole was 12.7 percent, the highest since 2012, the IBGE said.
The government of President Michel Temer attributes lingering high unemployment to the crisis of 2015-2016, when Brazil’s gross domestic product contracted by 8 percent amid economic stagnation and political turmoil, including the congressional ouster of President Dilma Rousseff.
Early official estimates show that the Brazilian economy grew by roughly 1 percent in 2017, while both government and private forecasters expect growth of around 1.8 percent this year.