Brazil's jobless rate rises to record 13.2%

Brazil's unemployment rate rose to a record high of 13.2 per cent in the quarter ending in February, as per its statistics agency IBGE.

It is the highest unemployment rate since IBGE stopped calculating a monthly rate in favour of quarterly figures in 2012, and up from 12.6 per cent in the previous quarter, Xinhua news agency cited the agency as saying on Friday.

According to IBGE, the unemployed population in Brazil reached 13.5 million people in February, which is also a record high figure.

Brazil is facing a dire economic situation, with a recession which has lasted two years, growing inflation and interest rates and diminishing credit.

The average monthly income of Brazilian workers remained stable at 2,068 reals ($660.7) in the quarter ending in February 2017.

According to IBGE, only the salaries of public sector workers registered an advance compared to the previous quarter and with the same period in 2016, while the salaries of private sector workers remained stable in the period.

--IANS

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