Brazil Unemployment Rate Down to 5-Month Low in July


In July of 2013, Brazilian jobless rate reached 5.6 percent, down from 6 percent recorded in June, but up from 5.4 percent in the same month last year, the Brazilian Institute of Geography and Statistics reported on August 22nd.

In July, the number of unemployed people decreased to 1.4 million, from 1.5 million recorded in June, while the number of employed people (23.1 million) remained unchanged from June. Yet, compared with the same month last year, the number of employed people increased 1.5 percent.  

Although in July the number of workers with a formal contract in the private sector (11.6 million) showed no big changes from June, it increased 3.5 percent year-on-year. 

Average real wages (R$ 1848.4) slightly declined 0.9 percent month-over-month, while increased 1.5 percent from July of 2012. 

By regions, both Recife and Salvador jobless rate increased in July to 7.6 percent and 9.3 percent, respectively. In contrast, unemployment decreased in São Paulo and in Rio de Janeiro to 5.8 percent and 4.7 percent, respectively.

Year-on-year, average real wages increased in Porto Alegre (+5.2 percent), Rio de Janeiro (+4 percent), São Paulo (1 percent) and Recife (0.5 percent), and dropped in São Salvador (-1.5 percent) and in Belo Horizonte (-1 percent). From June to July, average real wages went up in Belo Horizonte (2.5 percent) and dropped in Rio de Janeiro (-1.5 percent), São Paulo (-1.4 percent) and Salvador (-0.9 percent). 

Brazil Unemployment Rate Down to 5-Month Low in July


Joana Taborda | joana.taborda@tradingeconomics.com
8/22/2013 1:45:23 PM