The unemployment rate stood at 33.3% in the fourth quarter, the National Bureau of Statistics (NBS) said, up from 27.1% in the second quarter, when the data was last published. Unemployment of 23.1% was first reported for the third quarter of 2018.
Access Bank, Nigeria's largest lender, cut staff salaries and sacked contract workers accounting for 75% of its 30,000 workforce to save costs, banking sources told Reuters.
The average unemployment rate last year was 13.5%, IBGE said, up from 11.9% the year before and the highest since the series began eight years ago.
The IBGE figures showed 86.2 million Brazilians had work, up 4.5%, or 3.7 million people, from the July-September period, although still down 8.9%, or 8.4 million people, from the same period a year earlier.