Brazil’s jobless rate falls further in November

Brazil’s November jobless rate dropped further, coming in line with consensus expectations. The country’s statistics agency IBGE stated that the unemployment rate fell to 12 percent, eighth consecutive decline. The unemployed population dropped 4.1 percent, whereas the employed population rose 1 percent.

For the September-October-November quarter, the number of employees with a formal contract was stable at 33.2 million as compared to the previous quarter (June-July-August). Compared with the quarter from September to November 2016, there was a drop of 2.5 percent. The number of employees without a formal contract rose 3.8 percent over the previous quarter, whereas it rose 6.9 percent on a year-on-year basis.

The self-employed category was stable in comparison with the June-July-August quarter, whereas it rose 5 percent when compared with the same period of 2016. Meanwhile, the average real income stayed stable as compared to the previous quarter and on a year-on-year basis.

The usual gross income in the quarter ended November was up 2 percent as compared to previous quarter. Compared to the same quarter of 2016, there was a rise of 4.5 percent.

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