SAO PAULO Nov 22 Brazil's unemployment rate
fell in October, suggesting Brazil's robust labor market will
continue to support domestic demand through an incipient
Brazil's jobless rate fell in October to 5.3
percent, down from 5.4 percent in September, the government's
statistics agency IBGE said on Thursday.
October's unemployment rate matched the median forecast of 25
economists surveyed by Reuters. The estimates ranged from 5.0
percent to 5.6 percent.
That is the lowest rate for the month 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.
The number of Brazilians with jobs in the six major
metropolitan areas surveyed rose 0.9 percent from September to
23.4 million people, up 3 percent from the year-ago period.
The tally of people who unsuccessfully looked for work
remained unchanged in October from September and from a year
Real wages, or salaries discounted for inflation, were
little changed from September at an average of 1,787.70 reais
($855.36), gaining 4.6 percent from the year-earlier month.
Brazil's jobless rate has remained low despite the recent
economic slowdown, contrasting with the United States and many
European countries. Spain, hit by a deep recession and a banking
crisis, saw its unemployment rate soar to 24.6 percent in the