UPDATE 1-Brazil's jobless rate falls to 4.9 percent in November
* Second-lowest jobless rate ever recorded in Brazil * Real wages rise 5.3 percent from year earlier By Silvio Cascione SAO PAULO, Dec 21 (Reuters) - Brazil's jobless rate fell more than expected in November and edged closer to an all-time low, government data showed on Friday. The jobless rate fell to 4.9 percent from 5.3 percent in October, government statistics agency IBGE said. That was the second-lowest rate recorded in Brazil since the beginning of the current data series in March 2002. Unemployment hit an all-time low of 4.7 percent in December of last year. November's unemployment rate was below the median forecast of 5.1 percent in a Reuters survey of 29 economists. The estimates ranged from 4.8 percent to 5.5 percent. The number of Brazilians with jobs in the six major metropolitan areas surveyed remained unchanged from October at 23.5 million people, up 2.8 percent from a year earlier. The number of people who unsuccessfully looked for work fell 8.0 percent from October and remained unchanged from a year earlier. Real wages, or salaries discounted for inflation, rose 0.8 percent from October to an average of 1,809.60 reais ($871), gaining 5.3 percent from the year-earlier month. Despite disappointing economic growth in the past two years, unemployment has remained low in Brazil. While that has helped maintain a robust market for goods and services, it has also resulted in rising labor costs, piling pressure onto the country's flagging industries. Factories, farmers and retailers added a net 46,095 payroll jobs in November, the Labor Ministry said earlier this week. Net payroll job growth in the commercial sector increased 1.27 percent from the previous month, helping offset layoffs in building and farming.
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Japan's central bank shocks markets with more easing as inflation slows
- Oil price declines have small-cap shale investors scrambling