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Financial News: BRAZIL: Quarterly Jobless Rate Drops To 12.2% In

BRAZIL: Quarterly Jobless Rate Drops To 12.2% In October, As Expected

11/30/2017 - 13:24:00 (RTTNews)

(RTTNews) - Brazil's unemployment rate fell to 12.2% in the quarter to October, in line with market expectations and remaining at the lowest level since the last quarter of 2016 (12%), according to the national statistics office.

Compared to the quarter ended in July, the unemployment rate fell by 0.6 percentage point (pp). However, compared with the same quarter of 2016 (11.8%), there was a 0.4 pp increase.

The downward move in the unemployment level started between February and April, after reaching a 13.7% peak in the first quarter of this year.

The unemployed population in Brazil totaled 12.7 million from August to October, representing a 4.4% decrease (586 thousand fewer people) compared to the second quarter and increasing 5.8% (698 thousand people more) from a year before.

The Brazilian working population totaled 91.5 million between August and October 2017, a 1.0% increase (868 thousand more people) from the second quarter, and 1.8% higher than in the same period of 2016.

Workers with a formal contract in the private sector totaled 33.3 million, unchanged against the previous quarter, but down 2.2% from a year earlier (minus 738 thousand people).

The Brazilian workers' average monthly real income was estimated at R$ 2,127 in the quarter between August and October, stable from the previous period and also compared to the same quarter of 2016.

The total average real income of the employed people in the last three months was at R$ 189.8 billion, 1.4% higher than in the previous quarter and up 4.2% from the same period in 2016.

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