AVN 67.38 No Change ▼ 0.00 (0%)
BOP 9.90 No Change ▼ 0.00 (0%)
CHCC 128.50 No Change ▼ 0.00 (0%)
DCL 11.30 No Change ▼ 0.00 (0%)
DGKC 111.70 No Change ▼ 0.00 (0%)
EFERT 61.68 Increased By ▲ 0.93 (1.53%)
EPCL 44.60 No Change ▼ 0.00 (0%)
FCCL 21.12 No Change ▼ 0.00 (0%)
FFL 17.77 No Change ▼ 0.00 (0%)
HASCOL 22.10 No Change ▼ 0.00 (0%)
HBL 133.56 No Change ▼ 0.00 (0%)
HUBC 82.52 No Change ▼ 0.00 (0%)
HUMNL 8.08 No Change ▼ 0.00 (0%)
JSCL 30.22 No Change ▼ 0.00 (0%)
KAPCO 28.04 No Change ▼ 0.00 (0%)
KEL 4.24 No Change ▼ 0.00 (0%)
LOTCHEM 12.62 No Change ▼ 0.00 (0%)
MLCF 39.74 No Change ▼ 0.00 (0%)
OGDC 105.45 No Change ▼ 0.00 (0%)
PAEL 37.29 No Change ▼ 0.00 (0%)
PIBTL 13.58 No Change ▼ 0.00 (0%)
PIOC 98.09 No Change ▼ 0.00 (0%)
POWER 9.65 No Change ▼ 0.00 (0%)
PPL 94.03 No Change ▼ 0.00 (0%)
PSO 207.85 No Change ▼ 0.00 (0%)
SNGP 64.37 No Change ▼ 0.00 (0%)
STPL 14.20 No Change ▼ 0.00 (0%)
TRG 55.40 No Change ▼ 0.00 (0%)
UNITY 18.38 No Change ▼ 0.00 (0%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 4,334 Decreased By ▼ -12.22 (-0.28%)
BR30 22,002 Decreased By ▼ -81.03 (-0.37%)
KSE100 41,701 Decreased By ▼ -105.14 (-0.25%)
KSE30 17,606 Decreased By ▼ -52.86 (-0.3%)
COVID-19 TOTAL DAILY
CASES 310,275 694
DEATHS 6,457 6
World

Unemployment in virus-hit Brazil reaches 13.3pc, worst in 3 years: official

  • The institute said 12.8 million people are looking for work in Latin America's biggest economy.
06 Aug 2020

RIO DE JANEIRO: Virus-hit Brazil's unemployment rate rose to 13.3 percent in the April-June quarter, its highest in three years, according to official figures released Thursday that show 8.9 million jobs lost during the period due to the pandemic.

The figure represents a rise of 1.1 percentage points over the previous quarter, and is the highest since the March-May 2017 quarter, when it was also 13.3 percent, according to the Brazilian Institute of Geography and Statistics (IBGE).

The institute said 12.8 million people are looking for work in Latin America's biggest economy.

On Wednesday the Central Bank lowered its key rate by 0.25 points to two percent, a new historic low, in an attempt to revive the economy as the death toll from the virus approaches 100,000 in Brazil.

Industrial production fell by 10.9 percent in the first half of the year compared with the first six months of 2019, despite a sharp 8.9 percent rebound in June.

Analysts consulted by the Central Bank's weekly Focus survey expect GDP to contract by 5.66 percent this year, a forecast that is less pessimistic than a month ago, when it was 6.5 percent.