Unemployment Rate Evolution in Brazil from 1990 to 2023

Brazil’s unemployment rate showcases the economic shifts the country has undergone, from inflation control measures in the early 1990s to economic expansion in the 2000s. Starting at a moderate 4.7% in 1990, unemployment rose steadily, peaking at 11.2% by 2003 as Brazil dealt with inflation and fiscal challenges. With a growing economy in the mid-2000s, unemployment rates dropped to a low of 6.8% by 2014.

The following years marked another challenging phase as Brazil faced economic stagnation and political instability, driving unemployment to a high of 13.7% in 2020 due to the COVID-19 pandemic. However, by 2023, Brazil’s unemployment rate had dropped to 7.9%, reflecting a cautious recovery.