Brazil Unemployment Rate Keeps Falling

Brazilian jobless rate decreased for the second consecutive month to 4.7 percent in October of 2014 from 4.9 percent in September, as more people found a job. It is the lowest rate in ten months.

Unemployment fell slightly to 1.14 million persons from 1.18 million in the previous month and employment edged up by 175 thousand to 23.3 million. Yet, 277 thousand persons were underemployed in October, 11 thousand more than in the previous month.

The number of people either working or looking for work increased to 24 420 thousand in October from 24 286 thousand in September. Meanwhile, average real wage rose 2.3 percent month-over-month to R$ 2122.1.

Among regions, the unemployment rate fell the most in Salvador by 1.8 percent to 8.3 percent. In Rio de Janeiro, it increased by 0.4 percent to 3.8 percent and fell in São Paulo to 4.4 percent from 4.5 percent in September. 

A year earlier, the jobless rate was recorded at 5.2 percent. Yet, there were roughly the same 23.3 thousand employed persons while the number of people not attached to the labour force was lower (18.4 million in October of 2013 compared with 19 million in October of 2014). 

Brazil Unemployment Rate Keeps Falling

Joana Taborda |
11/19/2014 11:38:45 AM