FX.co ★ Brazil Unemployment Rate Falls to Record Low

Brazil's unemployment rate dropped to a historic low of 5.2% in the quarter ending November 2025. This decline from 5.6% in the previous three months exceeded the anticipated decrease to 5.4%. The data highlights a resilient Brazilian labor market, even amidst the challenges of high real interest rates for consumers and businesses. This development provides the central bank with leverage to maintain a hawkish stance if the nation's disinflationary trends waver. The number of unemployed individuals decreased by 7.2% from the last quarter, reaching a record low of 5.6 million. Concurrently, employment figures increased by 0.6% to an all-time high of 103 million. The underutilization rate also dropped by 0.6 percentage points to a new low of 13.5%. Meanwhile, average wages experienced an uptick of R$65, reaching R$3,547 per month.