Brazil has the lowest unemployment rate in history! But… what they don't tell you is that 94 million people in Brazil depend on some type of financial assistance distributed by the government.

🟡 IBGE/ Continuous Pnad: unemployment rate drops to 5.20% in November, from 5.40% in October; consensus 5.40%

The unemployment rate was the index that surprised financial agents the most this year. The median of estimates from financial agents in the last Focus Bulletin for 2024 was for an unemployment rate of 6.7% by the end of 2025. Source: BDM.

But what they don't tell you is that…

The point that changes everything

According to IBGE's criteria, "unemployed" is not "someone without income" nor "someone receiving benefits."

To be considered unemployed, a person must:

not be working;

be actively seeking employment;

be available to take a job.

Those who do not seek (for any reason) do not show up in the unemployment rate. They fall into the group outside the labor force or into underutilization categories (such as discouragement).

A survey by the Ministry of Development and Social Assistance indicates that 94 million people in Brazil depend on some type of financial assistance distributed by the government.

Brazil will not succeed this way. We will break in less than 10 years if nothing is done!

#Brazil #Economy #Unemployment #IBGE #PNAD #FocusBulletin #Income #Work #SocialAssistance #Macroeconomics