Brazil’s unemployment rate stood at 5.2% in the rolling quarter ended in September 2026, down from 5.3% in the prior quarter and matching market expectations. It was the lowest rate since December 2025. The number of unemployed persons fell by 4% quarter-on-quarter to 5.6 million. The employed population rose by 0.6% to 103.6 million, bringing the employment rate to 59%. The labor force activity rate held at 62.2%. The number of private-sector employees with a formal contract, excluding domestic workers, was largely unchanged at 39.4 million, the highest level in the historical series. The composite underutilization rate was 13%, also broadly stable. The population working fewer hours than desired was 4.3 million, while the discouraged population was 2.5 million. Average real monthly earnings were slightly higher at R$3,790.