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Unemployment Rate in Brazil Drops to 4.9% in September

10/24/2014 - 08h56

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LUCAS VETORAZZO
FROM RIO

Unemployment in Brazil has dropped to 4.9% in September, its lowest level for this month since 2002, according to the Monthly Employment Survey (PME in the acronym in Portuguese) released on Thursday, October 23rd, by the Brazilian Institute Of Geography and Statistics (IBGE).

The rate has come down both in comparison to last August (5%) and the rate registered for September 2013 (5.4%).

Nevertheless, the number of economically active people has seen a discrete fall of 0.2% compared to August and registers 23.1 million employed persons in September.

IBGE considers this variation as an indicator of stability.

In a comparison to September 2013, when economically active people totalled 23.13 million, the decrease in economically active persons was of 0.4%.

PME analyzes six metropolitan regions across the country: São Paulo, Rio de Janeiro, Belo Horizonte, Salvador, Recife and Porto Alegre.

According to analysts interviewed by Folha, in a regular panorama, even a slight decrease in job creation would mean a rise in the unemployment rate.

This rate did not decrease because the number of economically inactive persons who are not looking for employment has risen.

The average income in September was US$933 (RS$2.067,10), 0.1% higher than last August and 1.5% higher than September 2013.

"The rise in income is below last year's average; the industry closes vacancies as the economy slows down. Despite the low rate of unemployment the scenery is still not positive", Rafael Bacciotti, an economist at Tendências, has said.

Translated by CRISTIANE COSTA LIMA

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