Brazil Jobless Rate For December Month Highest Since 2007
The unemployment rate in Brazil increased to 6.9 percent in December of 2015 compared to 4.3 percent reported in the same month a year ago and below market expectations. Still, it is the lowest jobless rate in 6 months due to seasonal factors as the rate always declines in the last month of the year.
Considering full 2015, the average unemployment rate was 6.8 percent, higher than 4.8 percent in 2014. The number of unemployed persons increased 42.5 percent from 2014 to 1.7 million, the biggest increase on record.
Employment fell 1.6 percent to 23.3 million in 2015 and youth employment rate decreased to 53.8 percent from 57.3 percent in the previous year. Average real monthly wages contracted 3.7 percent to BRL 2265.09, the first drop since 2005. Among regions, the biggest salary losses occurred in Belo Horizonte (-4.6 percent), Rio de Janeiro and São Paulo (-4 percent each).
1/28/2016 12:32:45 PM