Print Print edition: 2017-02-25

Brazil unemployment hits new record high

Published February 25, 2017 Updated February 25, 2017 12:00am

Brazil's unemployment rate hit a new record high of 12.6 percent between November and January, official data showed Friday, despite government assertions of economic recovery. That meant 12.9 million out of work, deepening the sense of crisis for ordinary people in Latin America's biggest country after two years of recession.
At nearly 13 million jobless, that's a 34.3 percent increase from 12 months ago.
The unemployment rate has dented the popularity of the market-friendly government of President Michel Temer, who took over last year after the impeachment of president Dilma Rousseff with promises to restore the economy to health.
Brazil's economy shrank 3.8 percent in 2015 and is expected to have contracted a further 3.5 percent in 2016, the most painful recession in a century.