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Brazil's unemployment rate drops to 5.3% in October  Join our daily free Newsletter

MENAFN - 22/11/2012

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(MENAFN) An official data showed that Brazil's jobless rate dropped in October, indicating that Brazil's strong labour market will hold and help an initial economic recovery, Reuters reported.

The unemployment rate declined to 5.3 percent last month from 5.4 percent in the previous month, according to the government's statistics agency IBGE.

That is the lowest monthly rate since the current data series was introduced in 2002, and remains near an all-time low of 4.7 percent hit in December last year.

Unlike the US and Europe, Brazil's jobless rate has remained low despite the ongoing economic slowdown.

The report said the number of Brazilians with jobs in the six major metropolitan areas surveyed grew 0.9 percent month-on-month in October to 23.4 million people, and 3 percent higher from a year earlier.

The tally of people who unsuccessfully looked for work remained flat in October compared to September and year-ago period.

 






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