Brazil Unemployment Rate Falls to Record Low in November


In November of 2013, Brazilian jobless rate fell to 4.6 percent, down from 5.2 percent last month and 4.9 percent a year earlier. Brazil last reported 4.6 percent unemployment in December of 2012.

In November, unemployed people decreased 10.9 percent over the previous month to 1.1 million and employed people remained stable at 23.3 million. The number of workers with a formal contract in the private sector (11.8 million) slightly decreased from October and went up by 3.1 percent over a year earlier.

Average real wages (R$ 1965.2) rose 2.0 percent on a monthly basis and 3.0 percent over a year earlier.

Regionally, the jobless rate went up in Recife to 6.5 percent (6.1 percent in October) and decrease in all other main regions. The highest jobless rate was recorded again in São Salvador (8.2 percent) and the lowest in Porto Alegre (2.6 percent). In São Paulo, unemployment rate fell to 4.7 percent (5.6 percent in October) and in Rio de Janeiro the rate was 3.8 percent (4.1 percent in the previous month).  

In November, employment in industry and in the domestic services decreased (3.9 percent and -12.2 percent yoy, respectively) and remained stable in the remaining sectors. On a monthly basis, no significant changes were observed.

Brazil Unemployment Rate Falls to Record Low in November


Joana Taborda | joana.taborda@tradingeconomics.com
12/19/2013 11:50:29 AM