Brazil’s Unemployment Falls to 5.2%, Lowest Third-Quarter Rate Since 2012

Brazil’s unemployment rate fell to 5.2% in the third quarter of 2026, the lowest rate for that quarter since the statistical series began in 2012, according to figures released by the Brazilian Institute of Geography and Statistics on October 30. The rate was 5.4% in the previous quarter and 5.6% a year earlier. The number of people in employment reached a record 103.6 million. The unemployed population fell to 5.6 million, down by 234,000 from the previous quarter. Employment rose by 581,000 over the same period, including an increase of 210,000 in construction. Survey analyst William Kratochwill said: “Among activities with employment gains, growth in construction stands out.” Private-sector employees with formal contracts, excluding domestic workers, numbered 39.4 million, statistically stable against both the previous quarter and a year earlier. Broader measures showed continuing gaps in the labour market. The underutilization rate was 13.0%, statistically stable compared with 12.9% in the previous quarter and below 13.9% a year earlier. The number of discouraged workers rose by 7.5% over the quarter to 2.5 million, although it was 6.8% lower than a year earlier. Average usual real earnings were R$3,790, stable over the quarter and 3.6% higher than a year earlier. Aggregate real labour income reached a record R$387.5 billion. The continuous household survey covers 211,000 households across all 26 states and the Federal District each quarter. The next release, covering the quarter ending in October, is scheduled for November 27.