Brazil's Unemployment Rate at 10-Month Low in October


In October of 2013, Brazilian jobless rate decreased to 5.2 percent, from 5.4 percent in the previous month and reached the lowest rate since December last year.

In October, both the number of employed and unemployed people remained stable at 1.3 million and 23.3 million, respectively. The number of workers with a formal contract in the private sector (11.9 million) slightly increased from September and went up by 3.6 percent over a year earlier. 

Average real wages (R$ 1917.3) went down by 0.1 percent over September, but increased 1.8 percent over a year earlier. 

Regionally, the jobless rate went up in Recife to 6.1 percent (5.8 percent in September) and decrease in all other main regions. The highest jobless rate was recorded in São Salvador (9.1 percent) and the lowest in Porto Alegre (3 percent). São Paulo’s unemployment reached 5.6 percent and in Rio de Janeiro the rate was 4.1 percent.  

From September to October, employment in the retail sector rose 3.9 percent and remained stable in other sectors. On an annual basis, employment in the domestic services sectors went down by 8.4 percent. 

Brazil


Joana Taborda | joana.taborda@tradingeconomics.com
11/21/2013 11:17:45 AM