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Brazil Unemployment Rate Stays at Record 11.2% for Third Month

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A record 11.2 percent of Brazil’s population remained without jobs for the third month this year as the country struggles to contain fallout from a political... 29.06.2016, Sputnik International

2016-06-29T20:42+0000

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Brazil Unemployment Rate Stays at Record 11.2% for Third Month

20:42 GMT 29.06.2016

A view of Rio de Janeiro from Christ the Redeemer, Brazil - Sputnik International

A record 11.2 percent of Brazil’s population remained without jobs for the third month this year as the country struggles to contain fallout from a political crisis and low oil prices, official figures showed Wednesday.

Brazilian Wax Economics

24 June 2016, 12:20 GMT

MOSCOW (Sputnik) — Data unveiled by the Brazilian Institute of Geography and Statistics (IBGE) showed that 11.4 million people stayed unemployed from March throughout May.

The unemployment rate rose from 10.9 percent in January. It was at 8.1 percent in the same trimester a year ago.

The Brazilian economy has continued down the path of recession for the fifth consecutive quarter as oil prices stay low. Brazil has also been hurt by a continuing corruption scandal involving the nation's energy giant Petrobras and its former boss Dilma Rousseff, who was suspended as president earlier this year.