🚨 Brazil Reports Lowest August Unemployment Rate Since 2012: 5.3%

📊 The unemployment rate for the June-August quarter was 5.3%, the lowest level for that period since the historical series began in 2012, the Brazilian Institute of Geography and Statistics (IBGE) reported Tuesday.

💼 The number of unemployed people fell to 5.8 million: 281,000 fewer than in the previous quarter and 300,000 fewer than a year ago. The employed population reached 103.5 million, the highest figure on record.

🏗️ Construction led job creation with 306,000 more workers (4.1%), followed by general industry with 265,000 new jobs (2%).

📉 The discouraged labor force—those who stopped looking for work because they believed they would not find a job—stood at 2.4 million, a year-over-year decline of 11.9%.