Brazil’s unemployment rate fell to 5.6% in the July 2025 moving quarter, down from 5.8% and slightly below market expectations of 5.7%, marking the lowest level since the series began in 2012. The unemployed population dropped to 6.1 million, the lowest since late 2013, while the employed population hit a record 102.4 million. The employment-to-population ratio held at its record 58.8%. Job growth was driven by agriculture (+206,000 workers), information and professional services (+260,000), and public administration, education, health, and social services (+522,000). Meanwhile, average real earnings rose 1.3% to R$3,484.