(Adds IBGE comments)
RIO DE JANEIRO Nov 29 Brazil's unemployment
rate remained unchanged in the quarter through October, but an
increase in the number of people giving up seeking work
suggested the labor market continued to deteriorate amid a harsh
Brazil's jobless rate stood at 11.8 percent in the three
months through October, statistics agency IBGE said on Tuesday,
slightly above market expectations for an 11.7 percent rate.
There are 12 million unemployed people in Brazil, IBGE said,
as the economy goes through the second year of its worst
downturn in at least eight decades. The number of jobless
workers who were not looking for a new post rose by 2.3 percent
from a year earlier to 1.462 million, according to IBGE.
"The situation is much more severe than these figures are
showing, because the number of people with jobs continues to
fall. People are giving up seeking jobs because the labor market
is not creating opportunities," IBGE economist Cimar Azeredo
Wages discounted for inflation fell 1.3 percent in the
quarter through October from a year earlier, to 2,025 reais
($595) per month on average.
($1 = 3.4003 Brazilian reais)
(Reporting by Rodrigo Viga Gaier; Writing by Silvio Cascione;
Editing by Chizu Nomiyama)