Unemployment · Brazil
Brazil unemployment forecast
Unemployment (% of labor force, ILO modeled)
Model run: Sep 28, 2026 · TimesFM 2.5
12 months forecast · 2026
5.9%
Median forecast · p10-p90: 4.7% to 7.9%
24 months forecast · 2027
6.3%
Median forecast · p10-p90: 4.6% to 8.7%
36 months forecast · 2028
6.6%
Median forecast · p10-p90: 4.6% to 9.4%
Latest observed: 6.0% · 2025
Choose a horizon
The median and range update together.
History & forecast
White: observed history. Blue: forecast median. Shaded: p10-p90 model range.
Display-only line. World Bank data is annual: the forecasts are the yearly points marked on the chart. The monthly line between them is a straight-line interpolation for display, not a monthly forecast.
All values in % of labor force, ILO modeled
Model validation
| Horizon | Tests | Model errorModel | No-change errorNo change | Band coverageCoverage |
|---|---|---|---|---|
| 12 months | 5 | 1.39 pp | 1.55 pp | 80.0% |
| 24 months | 4 | 3.17 pp | 3.52 pp | 25.0% |
| 36 months | 3 | 4.49 pp | 5.12 pp | 0.0% |
In these tests the model had lower average error than a no-change forecast at all 3 horizons. Rolling backtests of this model on the latest revised history; overlapping forecast errors are not independent. The p10-p90 band is a model range, not a calibrated guarantee. Methodology · Forecast audit
Evidence & context
Source data
Source & observed data
| Year | Value | Change |
|---|---|---|
| 2025 | 6.0% | −0.83 pp |
| 2024 | 6.8% | −1.15 pp |
| 2023 | 7.9% | −1.28 pp |
| 2022 | 9.2% | −3.93 pp |
| 2021 | 13.2% | −0.54 pp |
| 2020 | 13.7% | +1.76 pp |
| 2019 | 11.9% | −0.39 pp |
| 2018 | 12.3% | −0.46 pp |
| 2017 | 12.8% | +1.21 pp |
| 2016 | 11.6% | +3.04 pp |
Sources & limits
Source: World Bank, World Development Indicators · SL.UEM.TOTL.ZS. Methodology · Forecast audit
Historical context
Outside the model
What could change this forecast?
A small, dated reading list. TimesFM sees the data series, not these stories. This context is not a trading signal.
No recent item selected for this series. We would rather leave this quiet than fill it with a weak match.
Selected for relevance, not a claim of causation. Source dates stay visible. Original reporting remains with its publisher.