Brazil's unemployment rate reaches peak since 2012

RIO DE JANEIRO, Nov. 30 (Xinhua) -- Brazil's unemployment rate rose to 12.2 percent in the third quarter of 2017, the highest since 2012, Brazilian statistics agency IBGE announced Thursday.

"Unemployment is still high, though with less strength," said IBGE Labor and Income Coordinator Cimar Azeredo, adding that the employment is increasing slowly.

From August to October 2017, the unemployed population totaled 12.7 million, down 4.4 percent from the previous quarter. However, it increased 5.8 percent from the same period last year.

Meanwhile, in the same period, the employed population amounted to 91.5 million, up 1 percent from the last quarter and 1.8 percent from the same period last year.

Out of the employed population, 33.3 million were working in private sectors, down 2.2 percent from last year.

According to Azeredo, the slight fall in employment in private sectors was mostly caused by a fall in formal work and a rise in informal work.

Brazilians who have lost their jobs have difficulty finding a new job and usually end up in positions without contracts. Enditem