Brazil Jobless Rate Falls

Brazil's unemployment rate fell to the second lowest level since 2001 in August amid a surge in formal employment in Latin America's biggest economy.

Unemployment in Brazil's six largest metropolitan areas fell to 7.6 percent last month, down from down from 8.1 percent in July, the national statistics agency said today.

Brazil's companies have been adding jobs at a record pace, fueling a surge in income that contributed to second-quarter economic growth of 6.1 percent. Brazil will add a record 2 million jobs in 2008, Labor Minister Carlos Lupi said Sept. 15, after announcing government registered jobs surged 79 percent last month. The August unemployment rate was the second lowest since October 2001. Joblessness fell to 7.4 percent in December 2007.

Brazil Jobless Rate Falls,
9/25/2008 7:10:55 AM