This statistic shows the unemployment rate in Brazil from 1999 to 2020. In 2020, the unemployment rate among Brazil's population ranged at approximately 11.97 percent.
Employment and economic upswing in Brazil
Recent growth in the Brazilian economy was the cause of the considerable improvement of the country’s unemployment rate. In a decade, the country’s unemployment rate was halved and is expected to continue to annually decrease. Brazil is also a member of the so-called BRIC countries, a group consisting of the fastest economically growing emerging countries, Brazil, Russia, India and China. With one of the largest economies not only in the Americas, but also the world, Brazil has maintained one of the highest levels of productivity globally), having produced billions of dollars in goods and services yearly.
Additionally, the country’s debt saw slight declines, but is now expected to stabilize. For most developed countries, a debt-to-GDP ratio of roughly 60 percent is considered reasonable. Brazil's debt-to-GDP, despite not being considered a fully developed country yet, is estimated to be at roughly 60 percent and substantially improved over the past several years, primarily due to an increase in the country’s GDP.
Brazil’s industrial sector is of high importance to the nation’s total yearly production. Though diverse, Brazil’s industry produces primarily transportation. Furthermore, agriculture plays an important role in economy, with the majority of exports consisting of automobiles and natural resources. Brazil has a variety of trading partners for these goods, most prominently China and the United States.